Sungwoo Hitech India Limited, Kancheepuram V. DCIT, CHENNAI

ITA 1829/CHNY/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6496 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 9 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 29-03-2021
• Assessment Year: 2014-2015
• Appeal Filed On: 13-06-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R ANITA
• Assessee Lawyers: N V LAKSHMI

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI . , , , BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER /. I.T.A. NO: 1829/CHNY/2019 / ASSESSMENT YEAR : 2014-15 SUNGWOO HITECH INDIA PVT LTD., PLOT NO. G 16-18, SIPCOT INDUSTRIAL PARK, IRUNGATTUKOTTAI, SRIPERUMBUDUR KANCHEEPURAM DISTRICT 602 117. [PAN:AAACJ 2661H] VS. DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 6(2), CHENNAI. ( / APPELLANT) ( / RESPONDENT) ' ( / APPELLANT BY : MS. N.V. LAKSHMI, CA +,' ( / RESPONDENT BY : MS. R. ANITA, JCIT ( /DATE OF HEARING : 29.03.2021 ( /DATE OF PRONOUNCEMENT : 07.04.2021 / O R D E R PER S. JAYARAMAN, ACCOUNTANT MEMBER: THE ASSESSEE FILED THIS APPEAL AGAINST THE ORDE R OF THE COMMISSIONER OF INCOME TAX (APPEALS)- 15, CHENNAI IN ITA NO. 63/20 17-18/CIT(A)-15 DATED 29.03.2019 FOR THE ASSESSMENT YEAR 2014-15. :-2-: ITA NO: 1829/CHNY/2019 2. THE ABOVE CASE WAS HEARD THROUGH VIDEO CONFERENCING . AT THE TIME OF HEARING, LEARNED COUNSEL FOR THE ASSESSEE INVITING OUR ATTENTION TO THE COPY OF THE LETTER DATED 29.03.2021 SUBMITTED THAT THE ASSE SSEE WANTED TO UTILIZE THE DIRECT TAXES VIVAD SE VISHWAS SCHEME, 2020 TO SET TLE PENDING DISPUTE RELATING TO DIRECT TAXES AND IN THIS REGARD THE ASS ESSEE HAS FILED FORM NO 1 AND 2 AND RECEIVED FORM NO. 3 FROM THE DESIGNATED A UTHORITY. 3. THE BENCH HAS CONSIDERED RIVAL CONTENTIONS OF BO TH SIDES AND AFTER HEARING BOTH PARTIES, WE FIND THAT THE ASSESSEE HAS FILED DECLARATION IN FORM NO.1 ALONG WITH UNDERTAKING WAIVING RIGHTS FOR ANY REMEDY IN FORM NO. 2 TO THE DESIGNATED AUTHORITY AND HAS RECEIVED FORM 3. THEREFORE, WE DISMISS THE APPEAL FILED BY THE ASSESSEE, SUPRA, AS WITH DRAWN. HOWEVER, LIBERTY IS GIVEN TO THE ASSESSEE TO RESTORE THE APPEAL, IN THE EVENT OF THE DESIGNATED AUTHORITY, FOR ANY REASON REJECT THE APPLICATION FI LED BY THE ASSESSEE UNDER SECTION 4 OF THE SAID ACT. WE, FURTHER MAKE IT CLEA R THAT IF THE ASSESSEE HAS FOR ANY REASON OPTED OUT FROM THE SCHEME OR THE APPLICA NT UNDER THE SCHEME MISREPRESENT ANY FACT WHICH RESULTED IN REJECTION O F APPLICATION FILED UNDER THE SCHEME, THEN THE PROVISIONS OF SECTION 4(6) OF THE ACT, SHALL BE APPLICABLE TO ALL SUCH APPEALS AND IN SUCH CASES, ALL THE PROCEEDINGS AND THE CLAI MS WHICH WERE WITHDRAWN UNDER SECTION 4 AND ALL THE CONSEQUENCES UNDER THE INCOME- TAX ACT AGAINST THE DECLARANT SHALL BE DEEMED TO HA VE BEEN REVIVED. WE, FURTHER MAKE IT CLEAR THAT THE ASSESSEE SHOULD PROM PTLY INFORM THE ASSESSING :-3-: ITA NO: 1829/CHNY/2019 OFFICER ABOUT THEIR DECISION TO OPT OUT OF THE SCHE ME OR REJECTION OF APPLICATION BY THE DESIGNATED AUTHORITY TO THE ASSE SSING OFFICER, SO AS TO ENABLE TO FILE MISCELLANEOUS APPLICATION TO RESTORE THE APPEAL. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON 07 TH APRIL, 2021 AT CHENNAI. SD/- ( . ' ) (DUVVURU RL REDDY) $% /JUDICIAL MEMBER SD/- ( ) (S. JAYARAMAN) % /ACCOUNTANT MEMBER /CHENNAI, 1 /DATED: 07 TH APRIL, 2021 JPV (+3454 /COPY TO: 1. ' / APPELLANT 2. +,' /RESPONDENT 3. 6 ) ( /CIT(A) 4. 6 /CIT 5. 4+ /DR 6. 9 /GF