DCIT, CORP CIR 3(1), CHENNAI V. M/s Tamil Nadu Steel Tubes Limited, CHENNAI

ITA 454/CHNY/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 5871 (ITAT-CHENNAI)
• Duration Of Justice: 2 year(s) 6 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-09-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 01-09-2021
• Assessment Year: 2011-2012
• Appeal Filed On: 22-02-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G JOHNSON

Judgement Text

./ ITA NO.454/CHNY/2019 /ASSESSMENT YEAR: 2011-12 THE DY. COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE-3(1), CHENNAI. V. M/S.TAMIL NADU STEEL TUBES LTD., MERCURY APARTMENTS, PANTHEON ROAD, EGMORE, CHENNAI. [PAN: AAACT 2381 C] ( /APPELLANT) ( /RESPONDENT) DEPARTMENT BY : MR. G.JOHNSON, ADDL.CIT ASSESSEE BY : NONE /DATE OF HEARING : 01 .0 9 .2021 /DATE OF PRONOUNCEMENT : 01 . 0 9 .2021 / O R D E R PER DUVVURU RL REDDY, JUDICIAL MEMBER: THE REVENUE FILED THIS APPEAL AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-7, CHENNAI, IN ITA NOS.115( T)/CIT(A)-7/2018-19 DATED 26.11.2018 FOR THE AY 2011-12. 2. WHEN THIS APPEAL WAS TAKEN UP FOR HEARING, THE L EARNED COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THE ASSESSEE HAS OP TED TO AVAIL THE VIVAD- SE-VISHWAS SCHEME 2020 AND FORM NO.3 WAS ALSO ISSUE D. IT HAS SUBMITTED THAT IT MAY BE PERMITTED TO WITHDRAW THE APPEAL. , , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: CHENNAI . . , . , , BEFORE SHRI DUVVURU R.L. REDDY, JUDICIAL MEMBER AND SHRI G. MANJUNATHA , ACCOUNTANT MEMBER ITA NO.454/CHNY/2019 :: 2 :: 3. ON THE OTHER HAND, THE LEARNED DEPARTMENTAL REPR ESENTATIVE HAS NOT RAISED ANY OBJECTION TO THE SUBMISSIONS OF THE LEAR NED 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 AUTHORITI ES 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 ACCORDINGLY, IT WAS PRAYED THAT THE APPEAL FILED BY THE REVENUE MAY BE PERMITTED TO BE WITHDRAWN. 6. IN VIEW OF THE SUBMISSIONS OF THE LD.COUNSEL FOR ASSESSEE, THE APPEAL FILED BY THE REVENUE IS PERMITTED TO BE WITHDRAWN. HOWEVER, IT IS OPEN TO THE ASSESSEE/REVENUE TO APPROACH THE TRIBUNAL BY FI LING AN APPROPRIATE APPLICATION IN THE EVENT OF ANY INJUSTICE CAUSED TO THE ASSESSEE/REVENUE IN RESPECT OF THE SETTLEMENT OF DISPUTE RELATING TO TH E VIVAD-SE-VISHWAS SCHEME 2020. 7. IN THE RESULT, THE APPEAL OF THE REVENUE IN ITA NO.454/CHNY/2019 IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON THE 01 ST DAY OF SEPTEMBER, 2021, IN CHENNAI. S D/ - S D/ - ( . ) ( G. MANJUNATHA ) /ACCOUNTANT MEMBER ( . . ) (DUVVURU R.L. REDDY) /JUDICIAL MEMBER ITA NO.454/CHNY/2019 :: 3 :: /CHENNAI, /DATED: 01 ST SEPTEMBER, 2021. TLN /COPY TO: 1. /APPELLANT 4. ' /CIT 2. /RESPONDENT 5. /DR 3. ' ( ) /CIT(A) 6. /GF