ITO, CORPORATE WARD - 6(3), CHENNAI V. SLN SECURITIES FOREX PVT. LTD., CHENNAI

ITA 2804/CHNY/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 7426 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 4 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2011-2012
• Appeal Filed On: 30-09-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R ANITHA JCIT
• Assessee Lawyers: M KARUNAKARAN

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH: CHENNAI . , !' # $% , & !' %' BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBE R # ./ ITA NO.2804/CHNY/2019 ( )( /ASSESSMENT YEAR: 2011-12 THE INCOME TAX OFFICER, CORPORATE WARD-6(3) CHENNAI. VS. M/S. SLN SECURITIES FOREX PVT. LTD., NO.8/10, 1 ST FLOOR, SUNDAR KRISHNA PLAZA, LUCKMUDASS STREET, CHENNAI 600 003. [PAN: AAOCS 5838D] ( *+ /APPELLANT) ( ,-*+ /RESPONDENT) *+ . / /ASSESSEE BY : SHRI M. KARUNAKARAN, ADVOCATE ,-*+ . / /REVENUE BY : MS. R. ANITHA, JCIT . 0& /DATE OF HEARING : 09.02.2021 12) . 0& / DATE OF PRONOUNCEMENT : 11.02.2021 !3 / O R D E R PER DUVVURU RL REDDY, JUDICIAL MEMBER : THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINS T THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-15, DATED 26.0 7.2019 RELEVANT TO THE ASSESSMENT YEAR 2011-12. I.T. I.T. I.T. I.T.A. NO. A. NO. A. NO. A. NO.2804 2804 2804 2804/ // /CHNY CHNY CHNY CHNY/ // /20 2020 2019 1919 19 2 2. WHEN THIS APPEAL WAS TAKEN UP FOR HEARING, VIDE LETTER DATED 08.02.2021, THE LEARNED COUNSEL FOR THE ASSESSEE HA S SUBMITTED THAT HE HAS OPTED TO AVAIL THE VIVAD-SE-VISHWAS SCHEME 2 020 AND FORM NO.3 WAS ALSO RECEIVED FROM THE DESIGNATED AUTHORIT Y. HE HAS SUBMITTED THAT HE MAY BE PERMITTED TO WITHDRAW THE APPEAL. 3. ON THE OTHER HAND THE LEARNED DEPARTMENTAL REPRE SENTATIVE HAS NOT RAISED ANY OBJECTION TO THE SUBMISSIONS OF THE LEARNED COUNSEL FOR THE ASSESSEE. 4. WE HAVE HEARD BOTH THE SIDES, PERUSED THE MATERI ALS AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHOR ITIES BELOW. 5. IN THIS CASE, THE ASSESSEE HAS OPTED FOR THE VIV AD-SE-VISHWAS SCHEME 2020 AND THE DESIGNATED AUTHORITY HAS ISSUED FORM NO.3 FOR THE SETTLEMENT OF PENDING TAX DISPUTE. ACCORDINGLY , HE PRAYED THAT HE MAY BE PERMITTED TO WITHDRAW THE APPEAL. 6. IN VIEW OF THE SUBMISSIONS OF THE ASSESSEE, THE APPEAL FILED BY THE ASSESSEE IS PERMITTED TO BE WITHDRAWN. HOWEVER , IT IS OPEN TO THE ASSESSEE TO APPROACH THE TRIBUNAL BY FILING AN APPR OPRIATE APPLICATION I.T. I.T. I.T. I.T.A. NO. A. NO. A. NO. A. NO.2804 2804 2804 2804/ // /CHNY CHNY CHNY CHNY/ // /20 2020 2019 1919 19 3 IN THE EVENT OF ANY INJUSTICE CAUSED TO THE ASSESSE E IN RESPECT OF THE SETTLEMENT OF DISPUTE RELATING TO THE VIVAD-SE-VISH WAS SCHEME 2020. 7. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON THE 11 TH FEBRUARY, 2021 AT CHENNAI. SD/ - SD/ - ( . ) (S. JAYARAMAN) /ACCOUNTANT MEMBER ( . ) (DUVVURU RL REDDY) /JUDICIAL MEMBER /CHENNAI, 4!# /DATED: 11 TH FEBRUARY, 2021 . EDN, SR. P.S !3 . ,056 76)0 /COPY TO: 1. *+ /APPELLANT 2. ,-*+ /RESPONDENT 3. 80 ( )/CIT(A) 4. 80 /CIT 5. 69: ,0 /DR 6. : ( ; /GF