ACIT, Circle - 4(1), Kolkata, Kolkata V. M/s. Anurag Finvest (P) Ltd., , Kolkata

ITA 1474/KOL/2017

AI Insights

The case involves an appeal by the Revenue against M/s. Anurag Finvest (P) Ltd. for the Assessment Year 2012-2013, which was directed against the order passed by the Commissioner of Income-tax (Appeals)-23, Kolkata. The assessee had settled the dispute under the 'Vivad Se Vishwas Scheme, 2020' and paid the due taxes. The Revenue did not object to the dismissal of the appeal. The tribunal noted a procedural deadlock regarding the issuance of Form No. 5, which is required to finalize the settlement under the scheme. The tribunal dismissed the appeal but allowed the Revenue to restore the appeal if necessary.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 128777 (ITAT-KOLKATA)
• Duration Of Justice: 5 year(s) 10 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-05-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 27-03-2023
• Assessment Year: 2012-2013
• Appeal Filed On: 19-06-2017
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 250

Judgement Text

आयकर अपीलीय अधिकरण कोलकाता 'बी' पीठ, कोलकाता म ें IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA श्री राजपाल यादव, उपाध्यक्ष (कोलकाता क्ष े त्र) एवं डॉ. मनीष बोरड, ल े खा सदस्य क े समक्ष Before SRI RAJPAL YADAV, VICE PRESIDENT & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 1474/KOL/2017 Assessment Year: 2012-2013 ACIT, Circle-4(1), Kolkata.........................................Appellant Vs. M/s. Anurag Finvest (P) Ltd....................................Respondent [PAN: AACCA 1611 N] Appearances by: None appeared on behalf of the Assessee. Sh. Sudipta Guha, CIT, (D/R), appeared on behalf of the Revenue. Date of concluding the hearing : March 28 th , 2023 Date of pronouncing the order : May 17 th , 2023 ORDER Per Manish Borad, Accountant Member: This appeal filed by the Revenue pertaining to the Assessment Year (in short “AY”) 2012-2013 is directed against the order passed u/s 250 of the Income Tax Act, 1961 (in short the “Act”) by ld. Commissioner of Income-tax (Appeals)-23, Kolkata [in short ld. “CIT(A)”] dated 24.04.2017. I.T.A. No.: 1474/KOL/2017 Assessment Year: 2012-2013 M/s. Anurag Finvest (P) Ltd. Page 2 of 3 2. Ld. Counsel for the assessee has moved an application dated 21.03.2023 requesting for dismissing the Revenue’s appeal as the assessee has settled the dispute under the “Vivad Se Vishwas Scheme-2020” and due taxes have been paid and Form No. 4 has been issued by the Revenue authorities on 24.04.2021. 3. Per contra, ld. D/R did not have any objection to this request of the assessee. 4. We have heard ld. D/R and perused the records placed before us. Ld. Counsel for the assessee stated in the application that the assessee has opted under the “Vivad Se Vishwas Scheme, 2020” and paid due taxes and Form no. 5 has been issued by the Revenue authorities on 24.04.2021. It is brought to our notice that when the assessee approached for the issue of Form no. 5, it was informed that first the appeal needs to be withdrawn/dismissed and then Form no. 5 will be issued. However, the correct procedure is that first the Department issues Form no. 5 to the assessee and then the appeal of the Revenue can be dismissed. In the instant case a deadlock has arisen. 5. However, looking to the fact that the assessee has paid all the due taxes i.e. Rs. 23,86,429/- on 21.04.2021 (as per Form no. 4 issued on 24.04.2021) and there is no dispute at the end of the Revenue if the instant appeal is dismissed on account of the assessee having opted for “Vivad Se Vishwas Scheme, 2020”, we dismiss this appeal. However, liberty is granted to the Revenue authorities that in case Form no. 5 is not issued and the assessee is precluded from opting for the “Vivad Se Vishwas Scheme, 2020” for any reason then the Revenue can file Miscellaneous Application I.T.A. No.: 1474/KOL/2017 Assessment Year: 2012-2013 M/s. Anurag Finvest (P) Ltd. Page 3 of 3 within the prescribed time limit for restoring the appeal for hearing on merits of the case. We, therefore dismiss this appeal since the dispute has been settled under the “Vivad Se Vishwas Scheme, 2020” and the due taxed have been paid by the assessee. 6. In the result, the appeal of the Revenue is dismissed as withdrawn. Kolkata, the 17 th May, 2023 Sd/- Sd/- [Rajpal Yadav] [Manish Borad] Vice President Accountant Member Dated: 17.05.2023 Bidhan (P.S.) Copy of the order forwarded to: 1. ACIT, Circle-4(1), Kolkata. 2. M/s. Anurag Finvest (P) Ltd., 71, Canning Street, R.No.456, 4 th Floor, Kolkata-700 001. 3. CIT(A)-23, Kolkata. 4. CIT- 5. CIT(DR), Kolkata Benches, Kolkata. //True copy // By order Assistant Registrar ITAT, Kolkata Benches Kolkata