Venkar Chemicals Pvt.Ltd., Hyd, Hyderabad V. DCIT, Circle-17(2), Hyd, Hyderabad

ITA 1258/HYD/2016

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6375 (ITAT-HYDERABAD)
• Duration Of Justice: 4 year(s) 6 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2012-2013
• Appeal Filed On: 27-09-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: S RAMA RAO
• Section: 143(3); 13

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD (THROUGH VIRTUAL HEARING) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 1258/HYD/2016 AY: 2012 - 13 VENKAR CHEMICALS PVT LTD., HYDERABAD. PAN: AABCV 0429 Q VS. DCIT, CIRCLE - 17(2), HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI S. RAMA RAO REVENUE BY: SHRI SUNIL KUMAR PANDEY, DR DATE OF HEARING: 15 /04/2021 DATE OF PRONOUNCEMENT: 19/04/2021 ORDER PER A. MOHAN ALANKAMONY, A.M: THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) - 5, HYDERABAD IN APPEAL NO. 0046/2015 - 16/CIT(A) - 5, DATED 28/07/2016 PASSED U/S. 143(3) R.W.S 250(6) OF THE ACT FOR THE A.Y. 2012 - 13. 2. AT THE OUTSET, LD. AR SUBMITTED BEFORE US THAT THE ASSESSEE DESIRES TO WITHDRAW ITS APPEAL AS THE ASSESSEE HAS OPTED TO AVAIL VIVAD SE VISWAS SCHEME. IT WAS FURTHER SUBMITTED THAT THE ASSESSEE HAD FILED 2 FORM NO.1 & 2 AND FORM - 3 WAS ALSO ISSUED BY THE REVENUE. IT WAS THEREFORE PLEADED, THAT THE APPEAL OF THE ASSESSEE MAY BE ALLOWED TO BE WITHDRAWN. 3. THE LD. DR STATED THAT IF THE ASSESSEE DESIRES TO OPT VIVAD - SE - VISHWAS SCHEME, THE DEPARTMENT HAS NO OBJECTION. 4. HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE, WE ARE INCLINED TO ALLOW THE APPEAL OF THE ASSESSEE TO BE WITHDRAWN YIELDING TO THE PRAYER OF THE ASSESSEE THAT HE HAS PREFERRED TO AVAIL THE VIVAD - SE - VISHWAS SCHEME BY FILING FORMS NO.1, 2 AND FORM - 3 WAS ALSO ISSU ED BY THE REVENUE. THE LD. DR HAS ALSO CONCEDED TO THE REQUEST OF THE ASSESSEE. ACCORDINGLY, WE HEREBY DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN. HOWEVER, WE ALSO MAKE IT CLEAR THAT, IF THE ASSESSEES CASE IS NOT ACCEPTED IN THE VIVAD - SE - VISWAS SCHE ME BY THE REVENUE FOR WHATSOEVER MAY BE THE REASON, THEN THE ASSESSEE SHALL BE AT LIBERTY TO FILE A MISCELLANEOUS PETITION BEFORE THE TRIBUNAL WITHIN THE TIME LIMIT PRESCRIBED UNDER THE ACT TO REINSTATE THE APPEAL. IT IS ORDERED ACCORDINGLY. 5. IN THE RES ULT, APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. 3 PRONOUNCED IN THE OPEN COURT ON 19 TH APRIL, 2021. SD/ - SD/ - ( SMT. P. MADHAVI DEVI ) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED: 19 TH APRIL , 2021. OKK COPY TO: - 1) VENKAR CHEMICALS PVT LTD., C/O. SRI S. RAMA RAO, ADVOCATE, FLAT NO. 102, SHRIYAS ELEGANCE, 3 - 6 - 643, STREET NO.9, HIMAYATNAGAR, HYDERABAD 500 029. 2) DY. COMMISSIONER OF INCOME TAX, CIRCLE - 17(2), SIGNATURE TOWERS, KONDAPUR, HYDERABAD. 3) THE CIT (A) - 5, HYDERABAD. 4) THE PRINCIPAL COMMISSIONER OF INCOME TAX - 5, HYDERABAD. 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE