ACIT Central Circle 2, Coimbatore V. Sree Daksha Property Developers India Pvt. Ltd., Coimbatore

ITA 2399/CHNY/2017

AI Insights

The case involves an appeal by the Deputy Commissioner of Income Tax, Central Circle-2, Coimbatore against M/s. Sree Daksha Property Developers India Pvt. Ltd. The appeal arose from an order passed by the Commissioner of Income Tax (Appeals)-18, Chennai, concerning the assessment year 2013-14. The assessee decided to settle the dispute under the Direct Taxes 'Vivad se Vishwas Scheme, 2020', which led to the dismissal of the Revenue's appeal by the Income Tax Appellate Tribunal, Chennai. The Tribunal's decision allows the Revenue to recall the order if the assessee does not comply with the settlement terms under the scheme.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 127427 (ITAT-CHENNAI)
• Duration Of Justice: 5 year(s) 6 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-04-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 11-04-2023
• Assessment Year: 2013-2014
• Appeal Filed On: 28-09-2017
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 143(3); 153A

Judgement Text

आयकर अपील य अ धकरण, ‘ए’ यायपीठ, चे नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI ी महावीर संह, उपा य एवं ी जी. मंज ु नाथ, लेखा सद&य के सम BEFORE SHRI MAHAVIR SINGH, VICE-PRESIDENT AND SHRI G.MANJUNATHA, ACCOUNTANT MEMBER आयकर अपीलसं./I. T. A. N o. 2 3 9 9/ C h n y/ 2 0 1 7 ( नधा रणवष / A s s e s sm e nt Yea r : 2 0 1 3- 1 4 ) The Deputy Commissioner of Income Tax, Central Circle-2, Coimbatore. V s M/s. Sree Daksha Property Developers India Pvt.Ltd. 1, Gandhi Layout, sri Veera’s Tower, Maruthamalai Road, Vadavalli, Coimbatore-641 046. P AN: A AO CS 1 2 2 0 R (अपीलाथ /Appellant) ( यथ /Respondent/Cross Objector) अपीलाथ क ओरसे/ Appellant by : Mr. R. Mohan Reddy,CIT यथ क ओरसे/Respondent by : Mr. S.Sridhar, Advocate स ु नवाईक तार ख/D a t e o f h e a r i n g : 12.04.2023 घोषणाक तार ख /D a t e o f P r o n o u n c e m e n t : 12.04.2023 आदेश / O R D E R PER MAHAVIR SINGH, VP: This appeal by the Revenue is arising out of order passed by the Commissioner of Income Tax (Appeals)-18, Chennai, in ITA No.459/16-17 dated 27.07.2017 for the assessment year 2013-14. The assessment was completed by the DCIT., Central Circle-2, Coimbatore for relevant assessment year 2013-14 u/s. 153A r.w.s 143(3) of the Income Tax Act, 1961 (hereinafter “the Act”) vide order dated 31.03.2016. 2. At the time of hearing, the ld.AR for the assessee has filed a letter dated 11.04.2023 and stated that the assessee opts to utilize the Direct Taxes ‘Vivad se Vishwas Scheme, 2020’ to settle pending dispute relating to Direct Taxes. The ld.AR has also stated that the assessee shall make payment of 2 ITA No. 2399/Chny/2017 the tax amount as per Form 3 and in this regard seeks permission to close the proceedings appropriately in terms of provisions of section 4(2) r.w.s. 5(1) of Vivad se Vishwas Act, 2020. 3. The ld.CIT DR submitted that in case the dispute is not finally settled by the assessee under VSVS, 2020, the Revenue is at liberty to recall this order. 4. Since the assessee has filed Form 3 to settle pending dispute regarding direct taxes under Vivad se Vishwas Scheme, 2020’, then there is no point in keeping appeal filed by the Revenue pending and hence, we dismiss the appeal filed by the Revenue, giving liberty to Revenue to recall this order, in case the assessee fails to settle the dispute under Vivad se Vishwas Scheme, 2020. 5. In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the open court on 12 th April, 2023 Sd/- Sd/- ( जी. मंज ु नाथ ) ( महावीर संह ) ( G.Manjunatha ) ( Mahavir Singh ) लेखा सद%य / Accountant Member उपा य / Vice-President चे(नई/Chennai, )दनांक/Date: 12.04.2023 DS आदेश क त+ल,प अ-े,षत/Copy to: 1. Appellant 2. Respondent 3. आयकर आय ु .त (अपील)/CIT(A) 4. आयकर आय ु .त/CIT 5. ,वभागीय त न2ध/DR 6. गाड फाईल/GF.