MPS Limited, CHENNAI V. ACIT, CHENNAI

ITA 755/CHNY/2016

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 2294 (ITAT-CHENNAI)
• Duration Of Justice: 4 year(s) 10 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 05-07-2017
• Assessment Year: 2011-2012
• Appeal Filed On: 28-03-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G SRINIVASA RAO
• Assessee Lawyers: SP CHIDAMBARAM
• Section: 22

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. 755 /CHNY/201 6 ASSESSMENT YEAR: 20 11 - 20 12 M/S. MPS LIMITED, RR TOWERS, IV SUPER A, NO.16/17, THIRU VI KA INDUSTRIAL ESTATE GUINDY, CHENNAI 600 032 . [PAN: AA ACM 2423L ] VS. THE ASSISTANT 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. SRINIVASA RAO, CIT / DATE OF HEARING : 22 .02 .2021 / DATE OF PRONOUNCEMENT : 22. 0 2 .2021 / O R D E R PER V. DURGA RAO, JUDICIAL MEMBER : THIS APPEAL FILED BY THE ASSESSEE IS AGAINST THE ORDER OF THE DISPUTE RESOLUTION PANEL - 2, BENGALURU IN DRP FILE NO.392/DRP - 2 - BNG/2015 - 16, DATED 22.12.2015 RELE VANT TO THE ASSESSMENT YEAR 20 11 - 20 12 . I . T (TP) . A NO . 755 /CHNY/201 6 : - 2 - : 2. WHEN THIS APPEAL WAS TAKEN UP FOR HEARING, THE LEARNED COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THE ASSESSEE HAS OPTED TO AVAIL THE VIVAD - SE - VISHWAS SCHEME 2020 AND FORM NO.3 WAS ALSO ISSUED. HE HAS SUBMITTED THAT HE MAY BE PERMITTED TO WITHDRAW THE APPEAL. 3. ON THE OTHER HAND THE LEARNED DEPARTM ENTAL 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 CA SE, THE ASSESSEE HAS OPTED FOR THE VIVAD - SE - VISHWAS SCHEME 2020 AND THE DESIGNATED AUTHORITY HAS ISSUED FORM NO.3 FOR THE SETTLEMENT OF PENDING TA X 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 IN VIEW OF THE SUBMISSIONS OF THE ASSESSEE, THE APPEAL FILED BY THE ASSESSEE IS PERMITTED TO BE WITHDRAWN.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 APPROPRIATE APPLICATION IN THE EVENT OF ANY INJUSTICE CAUSED TO THE ASSESSEE IN I . T (TP) . A NO . 755 /CHNY/201 6 : - 3 - : RESPECT OF THE SETTLEMENT OF DISPUTE RELATING TO THE VIVAD - SE - VISHWAS SCHEME 2020. 7 . IN THE RESULT, THE APPEAL OF THE ASSESSEE IN I.T.A . NO. 755 /CHNY/201 6 IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON 22 ND FEBRUARY , 2021 IN CHENNAI. SD/ - ( ) ( G. MANJUNATHA) /ACCOUNTANT MEMB ER SD/ - ( ) ( V. DURGA RAO ) /JUDICIAL MEMBER / CHENNAI, / DATED: 22 ND FEBRUARY , 2021 IA , SR. PS / COPY TO: 1. / APPELLANT 2. / RESPONDENT 3. ( ) / CIT(A) 4. / CIT 5. / DR 6. / GF