DCIT CORPORATE CIRCLE 3(2), CHENNAI V. Venture Metal Products (P) Ltd., CHENNAI

ITA 1295/CHNY/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 5779 (ITAT-CHENNAI)
• Duration Of Justice: 2 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-09-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 18-11-2021
• Assessment Year: 2014-2015
• Appeal Filed On: 29-04-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRS R ANITA

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: CHENNAI . . , . , BEFORE SHRI DUVVURU R.L. REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ./ ITA NO.1295/CHNY/2019 /ASSESSMENT YEAR: 2014-15 THE DY. COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE-3(2), CHENNAI. V. M/S.VENTURE METAL PRODUCTS PVT. LTD., NO.69, JALEE PALACE, 3 RD FLOOR, ELDAMS ROAD, TEYNAMPET, CHENNAI-600 018. [PAN: AAEFV 5234 F] ( ' /APPELLANT) ( #$' /RESPONDENT) DEPARTMENT BY : MRS.R.ANITA, ADDL.CIT ASSESSEE BY : NONE /DATE OF HEARING : 06.09.2021 /DT. OF PRONOUNCEMENT : 06.09.2021 / O R D E R PER DUVVURU R.L. REDDY, JUDICIAL MEMBER: THE REVENUE FILED THIS APPEAL AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-11, CHENNAI, IN ITA NO.309/16-17 DA TED 31.01.2019 FOR THE AY 2014-15. 2. WHEN THIS APPEAL WAS TAKEN UP FOR HEARING, NONE APPEARED ON BEHALF OF THE ASSESSEE. HOWEVER, THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THROUGH E-MAIL THAT THE ASSESSEE HAS OPTED TO AVAIL THE VIVAD-SE-VISHWAS SCHEME 2020 AND FORM NO.3 WAS ALSO ISSUED. IT HAS SUBM ITTED THAT IT MAY BE PERMITTED TO WITHDRAW THE APPEAL. ITA NO.1295/CHNY/2019 :- 2 -: 3. ON THE OTHER HAND, THE LEARNED DEPARTMENTAL REPRE SENTATIVE HAS NOT RAISED ANY OBJECTION TO THE SUBMISSIONS OF THE ASSE SSEES AUTHORIZED REPRESENTATIVE. 4. WE HAVE HEARD THE LD.DR, PERUSED THE MATERIALS AV AILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELO W. 5. IN THIS CASE, THE ASSESSEE HAS OPTED FOR THE VIVA D-SE-VISHWAS SCHEME 2020 AND THE DESIGNATED AUTHORITY HAS ISSUED FORM NO.3 FOR THE SETTLEMENT OF PENDING TAX DISPUTE. ACCORDINGLY, IT WAS PRAYED THAT THE APPEAL FILED BY THE REVENUE MAY BE PERMITTED TO BE WITHDRAWN. 6. IN VIEW OF THE SUBMISSIONS OF THE ASSESSEE, THE A PPEAL FILED BY THE REVENUE IS PERMITTED TO BE WITHDRAWN. HOWEVER, IT IS OPEN TO THE ASSESSEE/REVENUE TO APPROACH THE TRIBUNAL BY FILING AN APPROPRIATE APPLICATION IN THE EVENT OF ANY INJUSTICE CAUSED TO THE ASSESSEE/REVENUE IN RESPECT OF THE SETTLEMENT OF DISPUTE RELATING TO TH E VIVAD-SE-VISHWAS SCHEME 2020. 7. IN THE RESULT, THE APPEAL OF THE REVENUE IN ITA N O.1295/CHNY/2019 IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON THE 06 TH DAY OF SEPTEMBER, 2021, IN CHENNAI. SD/- SD/- ( . ) (S. JAYARAMAN) / ACCOUNTANT MEMBER ( *+ . . , ) (DUVVURU R.L. REDDY) /JUDICIAL MEMBER ITA NO.1295/CHNY/2019 :- 3 -: /CHENNAI, /DATED: 06 TH SEPTEMBER, 2021. TLN # - /COPY TO: 1. ' /APPELLANT 4. . /CIT 2. #$' /RESPONDENT 5. # /DR 3. . ( ) /CIT(A) 6. /GF