M/S.CHOLAMANDALAM FINANIAL HOLDINGS LTD, , CHENNAI V. DCIT, LTU CIRCLE - 2, CHENNAI

ITA 2502/CHNY/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9911 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 10 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 30-08-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S BHARATH

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , D B ENCH, CHENNAI . , . , % BEFORE SHRI V.DURGA RAO , JUDICIAL MEMBER AND SHRI G.MANJUNATHA, ACCOUNTANT MEMBER ./ I.T.A.NO.2502 TO 2504/CHNY/2019 ( / ASSESSMENT YEAR: 2007-08 TO 2009-10) M/S. CHOLAMANDALAM FINANCIAL HOLDINGS LTD., DARE HOUSE, 234, NSC BOSE ROAD, CHENNAI-600 001. VS THE DEPUTY COMMISSI ONER INCOME TAX, LARGE TAXPAYERS UNIT-2, CHENNAI. PAN: AAACT 1249H ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MR.SAROJ KUMAR PARIDA, ADVOCATE /RESPONDENT BY : MR. S.BHARATH, CIT ! /DATE OF HEARING : 26.07.2021 ! /DATE OF PRONOUNCEMENT : 26.07.2021 / O R D E R PER BENCH: THESE THREE APPEALS FILED BY THE ASSESSEE ARE DIRE CTED AGAINST THE COMMON ORDER PASSED BY THE LEARNED CIT (A)-9, CHENNAI DATED 28.06.2019 AND PERTAIN TO ASSESSMENT YEARS 2007-08, 2008-09 AND 2009-10. 2. WE HAVE HEARD THE COUNSEL FOR THE ASSESSEE AND T HE LD. DR AND ALSO PERUSED THE MATERIALS AVAILABLE ON RECO RD. AT THE TIME OF HEARING, LEARNED COUNSEL FOR THE ASSESSEE H AS FILED A LETTER ALONG WITH FORM NO.3 ISSUED BY THE DEPARTMEN T UNDER VIVAD SE VISHWAS SCHEME, 2020 AND SUBMITTED THAT THE ASSESSEE HAS AVAILED THE VSVS SCHEME TO SETTLE ITS PENDING 2 ITA NOS.2502 TO 2504/CHNY/2019 DISPUTES. THE LD.COUNSEL FOR THE ASSESSEE FURTHER SUBMITTED THAT THE DEPARTMENT HAS ACCEPTED APPLICATIONS FILED BY THE ASSESSEE IN THESE APPEALS AND ISSUED FORM 3 QUANTIF YING AMOUNT OF TAXES PAYABLE UNDER VSVS SCHEME. THEREFO RE, THE LD.COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASSE SSEE MAY BE PERMITTED TO WITHDRAW THE ABOVE APPEALS. THE LD .DR ON THE OTHER HAND HAS NO OBJECTION FOR WITHDRAWING ABOVE A PPEALS FILED BY THE ASSESSEE. THEREFORE, CONSIDERING THE FACT T HAT THE ASSESSEE HAS FILED APPLICATION FOR WITHDRAWAL OF AP PEALS AND HAS ALSO FILED FORM 3 ISSUED BY THE DEPARTMENT, WE DISMISS THE APPEALS FILED BY THE ASSESSEE AS WITHDRAWN. HOWEVE R, A LIBERTY IS GIVEN TO THE ASSESSEE TO RESTORE THE APPEALS, IN CASE THE APPLICATION FILED BY THE ASSESSEE BEFORE THE DESIGN ATED AUTHORITY, IS REJECTED FOR ANY REASON. 3. IN THE RESULT, ALL THESE THREE APPEALS FILED BY THE ASSESSEE ARE DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 26 TH JULY, 2021 SD/- SD/- ( . ) ( . ) (V.DURGA RAO) ( G.MANJUNATHA ) % ' / JUDICIAL MEMBER ' / ACCOUNTANT MEMBER % /CHENNAI, * /DATED 26 TH JULY, 2021 3 ITA NOS.2502 TO 2504/CHNY/2019 DS ,- .- /COPY TO: 1. APPELLANT 2. RESPONDENT 3. / () /CIT(A) 4. / /CIT 5. - 3 /DR 6. /GF .