Tube Investment of India Limited, CHENNAI V. ACIT, CHENNAI

ITA 1382/CHNY/2015

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 2640 (ITAT-CHENNAI)
• Duration Of Justice: 5 year(s) 9 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2005-2006
• Appeal Filed On: 04-06-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G JOHNSON CIT CHNY MS SRI

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: CHENNAI , , ( BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER SL. NO. ./ ITA NUMBER / ASSESSMENT YEARS / APPELLANT / RESPONDENT 1. 1379, 1380, 1381 & 1382/CHNY/2015 2000-01 2002-03 2003-04 2005-06 M/S. TUBE INVESTMENT OF INDIA LTD., DARE HOUSE, NO.234, NSC BOSE ROAD, CHENNAI 600 001. [PAN : AAACT 1249H] THE ASST. COMMISSIONER OF INCOME TAX, LARGE TAXPAYER UNIT-I, CHENNAI. / APPELLANT BY : SHRI SAROJ KUMAR PARIDA, ADVOCATE /RESPONDENT BY : SHRI G JOHNSON, ADDL. CIT 2. 1011/CHNY/2019 2013-14 M/S. SRI SARADHAMBIKA SPINTEX PVT. LTD., D. NO.88/2, METTUPALAYAM ROAD, NARASIMHANAICKENPALAYAM, COIMBATORE-641 031. [PAN: AAGCS 5875C] THE INCOME TAX OFFICER, CORPORATE WARD- 3(I/C), COIMBATORE. / APPELLANT BY : SHRI G. REDDY PRAKASH, C.A /RESPONDENT BY : SHRI G. JOHNSON, ADDL. CIT /DATE OF HEARING : 01.04.2021 /DATE OF PRONOUNCEMENT : 01.04.2021 / O R D E R PER BENCH: THESE FIVE APPEALS FILED BY ASSESSEES ARE DIRECTED AGAINST THE ORDERS OF LEARNED COMMISSIONER OF INCOME TAX (APPEA LS), CHENNAI & COIMBATORE EVEN DATED 19.01.2015 & 26.02.2019 FOR R ESPECTIVE ASSESSMENT YEARS. ITA NOS.1379 TO 1382/CHNY/2015 & 1011/CHNY/2019 :- 2 -: 2. WHEN THESE APPEALS WERE TAKEN UP FOR HEARING, VI DE LETTERS DATED 16.03.2021, THE LEARNED COUNSELS FOR THE ASSESSEES HAVE SUBMITTED THAT THE ASSESSEES HAVE OPTED TO AVAIL THE VIVAD-SE-VISH WAS SCHEME 2020. IT WAS FURTHER SUBMISSION THAT FORM NO.3 FROM THE DESI GNATED AUTHORITY IS YET TO BE ISSUED AND WOULD BE SUBMITTED IN DUE COUR SE AND THE SAME SHALL BE FURNISHED AFTER ISSUANCE OF FORM 3. THE LEARNE D COUNSELS FOR THE ASSESSEES HAVE FURTHER SUBMITTED THAT THE ASSESSEES MAY BE PERMITTED TO WITHDRAW THE APPEALS. 3. ON THE OTHER HAND THE LEARNED DEPARTMENTAL REPRE SENTATIVE HAS NOT RAISED ANY OBJECTION TO THE SUBMISSIONS OF THE LEAR NED COUNSELS FOR THE ASSESSEES. 4. WE HAVE HEARD BOTH THE SIDES THROUGH VIDEO-CONFE RENCING, PERUSED THE MATERIALS AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. 5. IN THESE CASES, THE ASSESSEES HAVE OPTED FOR THE VIVAD-SE-VISHWAS SCHEME 2020 AND THE DESIGNATED AUTHORITY IS YET TO ISSUE FORM NO.3 FOR THE SETTLEMENT OF PENDING TAX DISPUTE. SINCE, THE L D. COUNSEL FOR THE ASSESSEES HAVE SUBMITTED THAT FORM 3 WOULD BE SUBMI TTED AS AND WHEN IT WAS ISSUED AND PRAYED FOR PERMITTING THE ASSESSEES TO WITHDRAW THE APPEALS, THE APPEALS FILED BY THE ASSESSEES ARE PER MITTED TO BE ITA NOS.1379 TO 1382/CHNY/2015 & 1011/CHNY/2019 :- 3 -: WITHDRAWN. HOWEVER, IT IS OPEN TO THE ASSESSEES TO APPROACH THE TRIBUNAL BY FILING AN APPROPRIATE APPLICATION IN THE EVENT O F ANY INJUSTICE CAUSED TO THE ASSESSEES IN RESPECT OF THE SETTLEMENT OF DISPU TE RELATING TO THE VIVAD- SE-VISHWAS SCHEME 2020. 6. IN THE RESULT, ALL THE FIVE APPEALS FILED BY THE ASSESSEES ARE DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON 01 ST APRIL, 2021 IN CHENNAI. SD/ - SD/ - ( ) (G. MANJUNATHA) /ACCOUNTANT MEMBER ( ) (V. DURGA RAO) /JUDICIAL MEMBER /CHENNAI, /DATED: 01 ST APRIL, 2021 . EDN, SR. P.S /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. ( )/CIT(A) 4. /CIT 5. /DR 6. /GF