MPS Limited, CHENNAI V. DCIT Corporate circle 4(1), CHENNAI

ITA 3006/CHNY/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1551 (ITAT-CHENNAI)
• Duration Of Justice: 3 year(s) 2 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2006-2007
• Appeal Filed On: 07-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G JOHNSON ADD ITIONAL

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH: CHENNAI , , BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA , ACCOUNTAN T MEMBER ./ I . T . A NO. 3006 /CHNY/201 7 ASSESSMENT YEAR: 20 06 - 2007 M/S. MPS LIMITED, (EARLIER KNOWN AS MPS TECHNOLOGIES, LIMITED NOW MERGED WITH MPS LIMITED W.E.F.31.12.2010 RR TOWERS, IV SUPER A, NO.16/17, THIRU VI KA INDUSTRIAL ESTATE GUIN DY, CHENNAI 600 032 . [PAN: AA E CM 0205A ] VS. THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 4(1), NUNGAMBAKKAM, CHENNAI 600 034. ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MR. S.P. CHIDAMBARAM , ADVOCATE /RESPONDENT BY : M R . G. JOHNSON , ADD ITIONAL CIT / DATE OF HEARING : 15 .02 .2021 / DATE OF PRONOUNCEMENT : 15. 0 2 .2021 / O R D E R PER V. DURGA RAO, JUDICIAL MEMBER : THIS APPEAL FILE D BY THE ASSESSEE IS AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) - 8, CHENNAI IN I.T.A. NO.55/14 - 15, DATED 18.09.2017 RELE VANT TO THE ASSESSMENT YEAR 20 06 - 2007 . I . T . A NO . 300 6 /CHNY/201 7 : - 2 - : 2. WHEN THIS APPEAL WAS TAKEN UP FOR HEARING, VIDE LE T TER DATED 11 TH FEBRUARY, 2021, THE LEARNED COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THEY HA VE OPTED TO AVAIL THE VIVAD - SE - VISHWAS SCHEME 2020 . IT WAS FURTHER A SUBMISSION THAT FORM NO.3 FROM THE DESIGNATED AUTHORITY IS YET TO BE ISSUED AND WOULD BE SUBMITTED IN DUE COURSE AND THE SAME SHALL BE FURNISHED AFTER ISSUANCE OF FORM NO.3 . HE HAS FURTHER SUBMITTED THAT THE ASSESSEE MAY BE PERMITTED TO WITHDRAW THE APPE AL. 3. ON THE OTHER HAND THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS NOT RAISED ANY OBJECTION TO THE SUBMISSIONS OF THE LEARNED COUNSEL FOR THE ASSESSEE. 4. WE HAVE HEARD BOTH THE SIDES, PERUSED THE MATERIALS AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. 5. IN THIS CASE, THE ASSESSEE HAS OPTED FOR THE VIVAD - SE - VISHWAS SCHEME 2020 AND THE DESIGNATED AUTHORITY IS YET TO ISSUE FORM NO.3 FOR THE SETTLEMENT OF PENDING TAX DISPUTE. SINCE THE ASSESSEE HAS SUBMITTED THAT FORM NO.3 WOULD BE SUBMITTED AS AND WHEN IT IS ISSUED AND PRAYED FOR PERMITT ING THE ASSESSEE TO WITHDRAW THE APPEAL , THE APPEAL FILED BY THE ASSESSEE IS PERMITTED TO BE I . T . A NO . 300 6 /CHNY/201 7 : - 3 - : WITHDRAWN. HOWEVER, IT IS OPEN TO THE ASSESSEE TO APPROACH THE TRIBUNAL BY FILING AN APPROPRIATE APPLICATION IN THE EVENT OF ANY INJUSTICE CAUSED TO THE ASSESSEE IN RESPECT OF THE SETTLEMENT OF DISPUTE RELATING TO THE VIVAD - SE - VISHWAS SCHEME 2020. 6 . IN THE RESULT, THE APPEA L FILED BY THE ASSESSEE IN I.T.A . NO. 300 6 /CHNY/201 7 IS DISMISSED AS WITH DRAWN. ORDER PRONOUNCED ON 15 TH FEBRUARY , 2021 IN CHENNAI. SD/ - ( ) ( G. MANJUNATHA) /ACCOUNTANT MEMBER SD/ - ( ) ( V. DURGA RAO ) /JUDICIAL MEMBER / CHENNAI, / DATED: 15 TH FEBRUARY , 2021 IA , SR. PS / COPY TO: 1. / APPELLANT 2. / RESPONDENT 3. ( ) / CIT(A) 4. / CIT 5. / DR 6. / GF