Asian Fabricx P Ltd., Karur V. DCIT Circle 1(1), Trichy

ITA 669/CHNY/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1238 (ITAT-CHENNAI)
• Duration Of Justice: 2 year(s) 11 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 23-02-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: CHNY; ASIAN FABRICX PVT LTD
• Keywords: Competent authority

Judgement Text

/ DATE OF HEARING : 27-01-2021 / DATE OF PRONOUNCEMENT : 01-02-2021 / O R D E R PER DUVVURU R.L.REDDY, JUDICIAL MEMBER: THESE APPEALS FILED BY THE ASSESSEE ARE AGAINST TH E ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-1, THI RUCHIRAPALLI, IN ITA NOS.211/2011-12, 155/2012-13 DATED 01.02.2018 R ELEVANT TO THE ASSESSMENT YEARS 2009-10 & 2010-11 RESPECTIVELY . , , 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. AY APPELLANT RESPONDENT 669 & 671/CHNY/2018 2010-11 & 2009-10 M/S.ASIAN FABRICX PVT. LTD., 746/1&2, 751/172, MANMANGALAM VILLAGE, SEMMADAI, KARUR. (PAN: AAGCA 6961 R) THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-I(1), TRICHY. / APPELLANT BY : MR.S. SRIDHAR, ADV. / RESPONDENT BY : MR.SURESH PERIASAMY, JCIT ITA NOS.669 & 671/C/2018 :: 2 :: 2. WHEN THIS APPEAL WAS TAKEN UP FOR HEARING, VIDE MEMO DATED 27.01.2021, THE ASSESSEE HAS SUBMITTED THAT IT HAS OPTED TO AVAIL THE VIVAD-SE-VISHWAS SCHEME 2020. THE LD.COUNSEL FOR TH E ASSESSEE HAS SUBMITTED THE FOLLOWING SUBMISSIONS: AS THE ASSESSEE/PETITIONER HAS OPTED FOR VIVAD SE V ISWAS SCHEME, 2020, IN E-FILING FORM NO.1&2 IN RELATION TO THE ABOVE PENDING APPEAL(S), THE ASSESSEE/PETITIONER ACCORDINGLY PLEADS FOR ADJOURNING THE MATTER FOR ONE MONTH FOR GETTING THE FORM NO.3 FROM THE COMPETENT AUTHORITY IN THE INTEREST OF JUSTICE. AS PER SECTION 4(2) R.W.S.5(1) OF THE SAID ACT, THE P RESUMPTION OF LAW FOR THE ELIGIBILITY TO CLOSE THE PROCEEDINGS IS ON THE PENDENCY OF THE APP EAL(S) UP TO THE DATE OF ISSUANCE OF FORM NO.3 AND HENCE THE PRAYER FOR RE-FIXING THE MATTER TO A LATER DATE FOR WHICH THE ASSESSEE/PETITIONER UNDERTAKES TO INFORM THE RECEIPT OF FORM NO.3 IMMEDIATELY TO THE REGISTRY OF THE APPELLATE TRIBUNAL TO CLOSE THE PEN DING APPEAL(S). IN ANY EVENT, THE ASSESSEE/PETITIONER PRAYS IN THE E VENT OF THE CLOSURE OF THE PRESENT PROCEEDINGS FOR PASSING APPROPRIATE ORDER AS PER TH E PROVISIONS OF SECTION 4(2) R.W.S5(1) OF THE VIVAD SE VISWAS ACT, 2020 TO TREAT THE DISPOSAL ORDER AS DEEMED WITHDRAWAL AS ON THE DATE OF ISSUANCE OF FORM NO.3. THE ASSESSEE/PETITIO NER FURTHER PRAYS FOR GRANTING OF LIBERTY FOR RESTORATION OF THE APPEAL(S) IN THE EVENT OF THE ASSESSEE/PETITIONER IS NOT IN A POSITION TO SETTLE THE MATTER UNDER THE VIVAD SE VISWAS ACT, 20 20 IN ACCORDANCE WITH SECTION 4(6) OF THE SAID ACT. PENDING FILING OF FORM NOS.1 & 2 AND ISSUANCE OF F ORM NO.3, THE LD.COUNSEL FOR THE ASSESSEE HAS PRAYED THAT THE APP EAL OF THE ASSESSEE MAY BE PERMITTED TO BE WITHDRAWN. 3. ON THE OTHER HAND THE LEARNED DEPARTMENTAL REPRE SENTATIVE HAS NOT RAISED ANY OBJECTION TO THE SUBMISSIONS OF THE ASSESSEE. 4. WE HAVE PERUSED THE MATERIALS AVAILABLE ON RECOR D AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. 5. IN THIS CASE, THE ASSESSEE HAS OPTED FOR THE VIV AD-SE-VISHWAS SCHEME 2020 AND THE DESIGNATED AUTHORITY IS YET TO ISSUE FORM NO.3 ITA NOS.669 & 671/C/2018 :: 3 :: FOR THE SETTLEMENT OF PENDING TAX DISPUTE. SINCE TH E ASSESSEE HAS SUBMITTED THAT FORM NO.3 WOULD BE SUBMITTED AS AND WHEN IT IS ISSUED AND PRAYED FOR PERMITTING THE ASSESSEE TO WITHDRAW THE APPEAL, THE APPEAL FILED BY THE ASSESSEE IS PERMITTED TO BE WIT HDRAWN. HOWEVER, IT IS OPEN TO THE ASSESSEE TO APPROACH THE TRIBUNAL BY FILING AN APPROPRIATE APPLICATION IN THE EVENT OF ANY INJUSTI CE CAUSED TO THE ASSESSEE IN RESPECT OF THE SETTLEMENT OF DISPUTE RE LATING TO THE VIVAD- SE-VISHWAS SCHEME 2020. 6. IN THE RESULT, THE APPEALS OF THE ASSESSEE IN IT A NOS.669 & 671/CHNY/2018 ARE DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON THE 01 ST DAY OF FEBRUARY, 2021, IN CHENNAI. S D/ - S D/ - ( . ) (G. MANJUNATHA) /ACCOUNTANT MEMBER ( . . ) (DUVVURU R.L. REDDY) /JUDICIAL MEMBER /CHENNAI, /DATED: 01 ST FEBRUARY, 2021. TLN /COPY TO: 1. /APPELLANT 4. /CIT 2. /RESPONDENT 5. /DR 3. ( ) /CIT(A) 6. ! /GF