M/s.Tamilnadu Generation and Distribution Corpn. Ltd., CHENNAI V. ACIT, CHENNAI

ITA 2261/CHNY/2016

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6505 (ITAT-CHENNAI)
• Duration Of Justice: 4 year(s) 8 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2005-2006
• Appeal Filed On: 29-07-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G CHANDRABABU

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI . , , , BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER /. I.T.A. NO. 2261/CHNY/2016 / ASSESSMENT YEAR : 2005-06 M/S. TAMILNADU GENERATION AND DISTRIBUTION CORPORATION LTD., (FORMERLY TNEB), 144, NPKRR MAALIGAI, ANNA SALAI, CHENNAI 600 002. [PAN:AAACT 1245M] VS. THE ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE -3(1), CHENNAI. ( / APPELLANT) ( / RESPONDENT) ' ( / APPELLANT BY : SHRI. SAROJ KUMAR PARIDA, ADVOCATE +,' ( / RESPONDENT BY : SHRI. G. CHANDRABABU, ADDL. CIT ( /DATE OF HEARING : 30.03.2021 ( /DATE OF PRONOUNCEMENT : 08.04.2021 / O R D E R PER S. JAYARAMAN, ACCOUNTANT MEMBER: THIS APPEAL FILED BY THE ASSESSEE IS AGAINST ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-11, CHENNAI IN ITA NOS. 55 & 165/2013-14/CIT(A)-11 DATED 22.04.2016 FOR THE ASSE SSMENT YEAR 2005-06. :-2-: ITA NO: 2261/CHNY/2016 2. THE ABOVE CASE WAS HEARD THROUGH VIDEO CONFERENC ING. AT THE TIME OF HEARING, LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEE WANTED TO UTILIZE THE DIRECT TAXES VIVAD SE VISHWAS SCHEM E, 2020 TO SETTLE PENDING DISPUTE RELATING TO DIRECT TAXES AND IN THIS REGARD THE ASSESSEE HAS FILED FORM NO 1 AND 2 AND AWAITING FOR FORM NO. 3 FROM THE DES IGNATED AUTHORITY. 3. THE BENCH HAS CONSIDERED RIVAL CONTENTIONS OF BO TH SIDES AND AFTER HEARING BOTH PARTIES, WE FIND THAT THE ASSESSEE HAS FILED FORM NO 1 AND 2 AND AWAITING FOR FORM NO. 3 FROM THE DESIGNATED AUTHORI TY. THEREFORE, ONCE THE ASSESSEE FILED A DECLARATION IN FORM NO.1 ALONG WIT H UNDERTAKING AND EXPRESSED THEIR WILLINGNESS TO SETTLE PENDING DISPU TES REGARDING DIRECT TAXES, THEN THERE IS NO POINT IN KEEPING THE APPEAL FILED BY THE ASSESSEE. THEREFORE, WE DISMISS THE APPEAL FILED THE ASSESSEE, SUPRA, A S WITHDRAWN. HOWEVER, LIBERTY IS GIVEN TO THE ASSESSEE TO RESTORE THE A PPEAL, IN THE EVENT OF THE DESIGNATED AUTHORITY, FOR ANY REASON REJECT THE AP PLICATION FILED BY THE ASSESSEE UNDER SECTION 4 OF THE SAID ACT. WE, FURT HER MAKE IT CLEAR THAT IF THE ASSESSEE HAS FOR ANY REASON OPTED OUT FROM THE SCHE ME OR THE APPLICANT UNDER THE SCHEME MISREPRESENT ANY FACT WHICH RESULT ED IN REJECTION OF APPLICATION FILED UNDER THE SCHEME, THEN THE PROVIS IONS OF SECTION 4(6) OF THE ACT, SHALL BE APPLICABLE TO SUCH APPEAL AND IN SUCH CASE, THE PROCEEDINGS AND THE CLAIMS WHICH WERE WITHDRAWN UNDER SECTION 4 AND ALL THE CONSEQUENCES UNDER THE INCOME-TAX ACT AGAINST THE DECLARANT ASSE SSEE SHALL BE DEEMED TO :-3-: ITA NO: 2261/CHNY/2016 HAVE BEEN REVIVED. WE, FURTHER MAKE IT CLEAR THAT THE ASSESSEE SHOULD PROMPTLY INFORM THE ASSESSING OFFICER ABOUT THEIR D ECISION TO OPT OUT OF THE SCHEME OR REJECTION OF APPLICATION BY THE DESIGNATE D AUTHORITY TO THE ASSESSING OFFICER, SO AS TO ENABLE TO FILE MISCELLA NEOUS APPLICATION TO RESTORE THE APPEALS. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON 08 TH APRIL, 2021 AT CHENNAI. SD/- ( . ' ) (DUVVURU RL REDDY) $% /JUDICIAL MEMBER SD/- ( ) (S. JAYARAMAN) % /ACCOUNTANT MEMBER /CHENNAI, 1 /DATED: 08 TH APRIL, 2021 JPV (+3454 /COPY TO: 1. ' / APPELLANT 2. +,' /RESPONDENT 3. 6 ) ( /CIT(A) 4. 6 /CIT 5. 4+ /DR 6. 9 /GF