Asian Fabricx P Ltd., Karur V. DCIT Circle 2(1), Trichy

ITA 806/CHNY/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5209 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 10 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 26-03-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G JOHNSON ADD ITIONAL
• Assessee Lawyers: S SRIDHAR
• Section: 201

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: CHENNAI , , BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA , ACCOUNTAN T MEMBER ./ I . T . A NO. 806 /CHNY/201 9 ASSESSMENT YEAR: 201 4 - 20 1 5 M/S. ASIAN FABRICX PRIVATE LIMITED, SF NO.746/1&2, 751/1&2, MANMANGALAM VILLAGE,SEMMADAI, KARUR 639 006. T.N. [PAN: AA GCA 6961R ] VS. THE PRINCIPAL COMMISSIONER OF INCOME TAX, INCOME TAX DEPARTMENT, NO.44, WILLIAMS ROAD, CANTONMENT, TIRUCHIRAPPALLI 620 001. ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MR. S. SRIDHAR , ADVOCATE /RESPONDENT BY : M R . G. JOHNSON , ADD ITIONAL CIT / DATE OF HEARING : 02.02 .2021 / DATE OF PRONOUNCEMENT : 02. 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 LEARNED PRINCIP AL COMMISSIONER OF INCOME TAX , TRICHY - 1 IN C. NO.6143(5)/PCIT/TRY - 1/2018 - 19 DATED 08.03.2019 RELE VANT TO THE ASSESSMENT YEAR 201 4 - 201 5 . I . T . A NO . 806 /CHNY/201 9 : - 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 DEPARTMENTAL REPRESENTATIVE HAS NOT RAISED ANY OBJECTION TO THE SUBMISSIONS OF THE LEARNED COUNSEL FOR THE ASSESSEE. 4. WE HAVE HEARD BOTH THE SIDES THROUGH VIDEO - CONFERENCING , PERUSED THE MATERIALS AVAILABLE ON RECO RD 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 DES IGNATED AUTHORITY HAS ISSUED FORM NO.3 FOR THE SETTLEMENT OF PENDING TAX 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 W ITHDRAWN. HOWEVER, IT IS OPEN TO THE ASSESSEE TO APPROACH THE TRIBUNAL BY FILING AN APPROPRIATE I . T . A NO . 806 /CHNY/201 9 : - 3 - : 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. 7 . IN THE RESULT, THE APPEA L OF THE ASSESSEE IN I.T.A . NO. 806 /CHNY/201 9 IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON 2 ND FEBRUARY , 2021 IN CHENNAI. SD/ - ( ) ( G. MANJUNATHA) /ACCOUNTANT MEMBER SD/ - ( ) ( V. DURGA RAO ) /JUDICIAL MEMBER / CHENNAI, / DATED: 2 ND FEBRUARY , 2021 IA , SR. PS / COPY TO: 1. / APPELLANT 2. / RESPONDENT 3. ( ) / CIT(A) 4. / CIT 5. / DR 6. / GF