Malladi Drugs and Pharmaceuticals Limited, CHENNAI V. DCIT, CHENNAI

ITA 840/CHNY/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1241 (ITAT-CHENNAI)
• Duration Of Justice: 3 year(s) 9 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2003-2004
• Appeal Filed On: 05-04-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: MALLADI DRUGS; CHNY TO

Judgement Text

/ DATE OF HEARING : 28-01-2021 / DATE OF PRONOUNCEMENT : 01-02-2021 / O R D E R PER BENCH: THESE APPEALS FILED BY THE ASSESSEE ARE AGAINST THE O RDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-8, CHENNAI IN ITA NOS.102 & 101/2005-06, 102 & 101/2006-0 7, 100/2007-08 & 210/2010-11 DATED 25.01.2017 RELEVANT TO THE ASSESSMENT YEARS 2001-02 TO 2005-06 & 2007-08. , , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: CHENNAI . . , . , , BEFORE SHRI DUVVURU R.L. REDDY , JUDICIAL MEMBER AND SHRI G. MANJUNATHA , ACCOUNTANT MEMBER ITA NO. AY APPELLANT RESPONDENT 838-842/CHNY/2017 & 843/CHNY/2017 2001-02 TO 2005-06 & 2007-08 M/S.MALLADI DRUGS & PHARMACEUTICALS LTD., NO.9, G.S.T. ROAD, ST. THOMAS MOUNT, CHENNAI-600 016. (PAN: AAACM 5031 A) THE DY. COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE- 4(1), CHENNAI-600 034. / APPELLANT BY : MR.VIKRAM VIJAYARAGHAVAN, ADV. / RESPONDENT BY : MR.G. CHANDRABABU, ADDL.CIT ITA NOS.838-843/C/2017 :: 2 :: 2. WHEN THESE APPEALS WERE TAKEN UP FOR HEARING, THE ASSESSEE HAS SUBMITTED THAT IT HAS OPTED TO AVAIL THE VIVAD-SE- VISHWAS SCHEME 2020. IT WAS FURTHER A SUBMISSION THAT FOR M NO.3 FROM THE DESIGNATED AUTHORITY IS YET TO BE ISSUED AND WOULD BE SUBMITTED IN DUE COURSE AND THE SAME SHALL BE FURNISHED AFTER ISSUANCE OF FORM NO.3. IT HAS FURTHER SUBMITTED THAT IT M AY BE PERMITTED TO WITHDRAW THE APPEAL. 3. ON THE OTHER HAND THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS NOT RAISED ANY OBJECTION TO THE SUBMISS IONS OF THE ASSESSEE. 4. WE HAVE PERUSED THE MATERIALS AVAILABLE ON RECORD 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 DESIGNATED AUTHORITY IS YET TO ISSUE FORM NO.3 FOR THE SETTLEMENT OF PENDING TAX DISPUT E. SINCE THE ASSESSEE HAS SUBMITTED THAT FORM NO.3 WOULD BE SUBMI TTED AS AND WHEN IT IS ISSUED AND PRAYED FOR PERMITTING THE A SSESSEE TO WITHDRAW THE APPEAL, THE APPEAL FILED BY THE ASSES SEE IS PERMITTED TO BE WITHDRAWN. HOWEVER, IT IS OPEN TO THE ASSESSEE ITA NOS.838-843/C/2017 :: 3 :: TO APPROACH THE TRIBUNAL BY FILING AN APPROPRIATE APPLIC ATION IN THE EVENT OF ANY INJUSTICE CAUSED TO THE ASSESSEE IN RESPE CT OF THE SETTLEMENT OF DISPUTE RELATING TO THE VIVAD-SE-VISHW AS SCHEME 2020. 6. IN THE RESULT, THE APPEALS OF THE ASSESSEE IN ITA N OS.838- 843 /CHNY/2017 ARE DISMISSED AS WITHDRAWN. ORDER PRONOUNCED ON THE 01 ST DAY OF FEBRUARY, 2021, IN CHENNAI. SD/- SD/- ( . ) (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