Abhay Kumar Jain, Chennai V. ITO, Non Corp Ward 9(1), Chennai

ITA 461/CHNY/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6480 (ITAT-CHENNAI)
• Duration Of Justice: 2 year(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2014-2015
• Appeal Filed On: 22-02-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI . , ! , , ! BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER SL.NO ITA NO: AY APPELLANT RESPONDENT 1 461/CHNY/2019 2014 - 15 SHRI ABHAY KUMAR JAIN, NO. 164, LINGHI CHETTY STREET, SINGAPORE PLAZA, 2 ND FLOOR, PARRYS, CHENNAI 600 001. [PAN: AADPJ 8702D] AR: G. RAMAKRISHNAN, CA ITO, NON CORPORATE WARD 9(1), CHENNAI. DR: SURESH PERIASAMY, JCIT ' /DATE OF HEARING : 18.02.2021 ' /DATE OF PRONOUNCEMENT : 24.02.2021 / O R D E R PER S. JAYARAMAN, ACCOUNTANT MEMBER: THIS APPEAL FILED BY THE ASSESSEE IS AGAINST ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-10, CHENNAI IN ITA NO. 179/ 16-17/CIT(A)-10 DATED 30.11.2018 FOR ASSESSMENT YEAR 2014-15. 2. THIS CASE WAS HEARD THROUGH VIDEO CONFERENCING. AT THE TIME OF HEARING, LEARNED COUNSEL FOR THE ASSESSEE INVITING OUR ATTENTION TO THE COPY OF THE LETTER DATED 15.02.2021 SUBMITTED THAT THE ASSE SSEE WANTED TO UTILIZE THE DIRECT TAXES VIVAD SE VISHWAS SCHEME, 2020 TO SET TLE PENDING DISPUTE :-2-: ITA NO: 461/CHNY/19 RELATING TO DIRECT TAXES AND IN THIS REGARD THE ASS ESSEE HAS FILED FORM NO 1 AND 2 AND RECEIVED FORM NO. 3 FROM THE DESIGNATED A UTHORITY. 3. THE BENCH HAS CONSIDERED RIVAL CONTENTIONS OF BO TH SIDES AND AFTER HEARING BOTH PARTIES, WE FIND THAT THE ASSESSEE HAS FILED DECLARATION IN FORM NO.1 ALONG WITH UNDERTAKING WAIVING RIGHTS FOR ANY REMEDY IN FORM NO. 2 TO THE DESIGNATED AUTHORITY AND HAS ALSO RECEIVED FORM 3. THEREFORE, WE DISMISS THE APPEAL FILED BY THE ASSESSEE, SUPRA, AS WITHDRAWN. HOWEVER, LIBERTY IS GIVEN TO THE ASSESSEE TO RESTORE THE A PPEAL, IN THE EVENT OF THE DESIGNATED AUTHORITY, FOR ANY REASON REJECT THE AP PLICATION FILED BY THE ASSESSEE UNDER SECTION 4 OF THE SAID ACT. WE, FURT HER MAKE IT CLEAR THAT IF THE ASSESSEE HAS FOR ANY REASON OPTED OUT FROM THE SCHE ME OR THE APPLICANT UNDER THE SCHEME MISREPRESENT ANY FACT WHICH RESULT ED IN REJECTION OF APPLICATION FILED UNDER THE SCHEME, THEN THE PROVIS IONS OF SECTION 4(6) OF THE ACT, SHALL BE APPLICABLE TO ALL SUCH APPEALS AND IN SUCH CASES, ALL THE PROCEEDINGS AND THE CLAIMS WHICH WERE WITHDRAWN UND ER SECTION 4 AND ALL THE CONSEQUENCES UNDER THE INCOME-TAX ACT AGAINST THE D ECLARANT SHALL BE DEEMED TO HAVE BEEN REVIVED. WE, FURTHER MAKE IT CLEAR THAT THE ASSESSEE SHOULD PROMPTLY INFORM THE ASSESSING OFFICER ABOUT THEIR DECISION TO OPT OUT OF THE SCHEME OR REJECTION OF APPLICATION BY THE DESIG NATED AUTHORITY TO THE ASSESSING OFFICER, SO AS TO ENABLE TO FILE MISCELLA NEOUS APPLICATION TO RESTORE THE APPEAL. :-3-: ITA NO: 461/CHNY/19 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON 24 TH FEBRUARY, 2021 AT CHENNAI. SD/- ( . ) (DUVVURU RL REDDY) /JUDICIAL MEMBER SD/- ( ) (S. JAYARAMAN) /ACCOUNTANT MEMBER /CHENNAI, , /DATED: 24 TH FEBRUARY, 2021 JPV './010 /COPY TO: 1. 3 / APPELLANT 2. .53 /RESPONDENT 3. 6 ) ( /CIT(A) 4. 6 /CIT 5. 0. /DR 6. 9 /GF