KOC SOUND SYSTEMS INDIA PRIVATE LTD., KANCHEEPURAM V. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE -4(2), CHENNAI

ITTPA 3/CHNY/2021

AI Insights

The case involves M/s. KOC Sound Systems- India Pvt. Ltd., the appellant, who filed appeals against the order of the Commissioner of Income Tax (Appeals)-8, Chennai, pertaining to the assessment years 2010-11 to 2012-13. The appeals were initially found to be barred by limitation, but the delay was condoned after the assessee provided reasonable cause. Subsequently, the assessee availed the 'Vivad se Vishwas Scheme, 2020' to settle pending disputes with the Department, leading to the filing of Form No.5. The Department's acceptance of the application and issuance of Form No.5 prompted the assessee to withdraw the appeals, which the court allowed, dismissing the appeals as withdrawn.

• Counselvise Citation: [2022] 140 COUNSELVISE.COM (IT) 127887 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 10 month(s) 14 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 12-12-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 12-12-2022
• Assessment Year: 2011-2012
• Appeal Filed On: 28-01-2021
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Reasonable cause; Condonation of delay

Judgement Text

आयकर अपील सं./IT (TP) A Nos.2-4/Chny/2021 िनधा रण वष /Assessment Years: 2010-11 to 2012-13 M/s.KOC Sound Systems- India Pvt. Ltd., Survey No.293/1, Kattagaram Village, Mevalur Kuppam, Sriperumbudur Taluk, Kancheepuram District, Tamil Nadu-602 105. v. The Asst. Commissioner- of Income Tax, Corporate Circle-4(2), Chennai. [PAN: AADCK 3261 H] (अपीलाथ /Appellant) ( थ /Respondent) अपीलाथ की ओर से/ Appellant by : Mr.N.Arjunraj, CA For Mr.S.Sridhar, Adv. थ की ओर से /Respondent by : Mr.M.Arjun Manic, JCIT सुनवाई की तारीख/Date of Hearing : 13.12.2022 घोषणा की तारीख /Date of Pronouncement : 13.12.2022 आदेश / O R D E R PER BENCH: These appeals filed by the assessee are directed against the order of the Commissioner of Income Tax (Appeals)-8, Chennai, dated 31.03.2017 and pertains to assessment years 2010-11 to 2012-13. 2. We find that appeals filed by assessee is barred by limitation for which necessary petition for condonation of delay explaining the reasons for the delay has been filed. The learned counsel submitted that assessee could आयकर अपीलीय अिधकरण, ’डी’ "ायपीठ, चे%ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI ी वी. दुगा राव, माननीय ाियक सद एवं +ी जी. मंजूनाथा, माननीय लेखा सद, के सम BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER AND SHRI G. MANJUNATHA, HON’BLE ACCOUNTANT MEMBER IT (TP) A Nos.2-4/Chny/2021 :: 2 :: not file appeal within the time allowed under the Act, therefore delay may be condoned. Having heard both sides and considered the petition filed by the assessee for condonation of delay, we are of the considered view that reasons given by assessee for not filing the appeals within the time allowed under the Act comes under reasonable cause as provided under the Act for condonation of delay and hence, delay in filing of above appeals is condoned and appeals filed by the assessee are admitted for adjudication. 3. We have heard learned counsel for the assessee and learned DR and also perused the materials available on record. At the time of hearing, learned counsel for the assessee has filed a letter along with Form No.5 issued by the Department under ‘Vivad se Vishwas Scheme, 2020’ and submitted that the assessee has availed the VSVS scheme to settle its pending disputes. The ld. counsel for the assessee further submitted that the Department has accepted application filed by the assessee and issued Form No.5 quantifying amount of taxes payable under VSVS scheme. Therefore, the ld. counsel for the assessee submitted that the appeals filed by the assessee may be dismissed as withdrawn. The ld. DR, on the other hand, has no objection for dismissing the appeals as the Designated Authority has issued Form No.5. Therefore, considering fact that the assessee has filed application for withdrawal of appeals and has also filed Form No.5 issued by the Department, we dismiss appeals filed by the assessee as withdrawn. However, a liberty is given to the assessee to IT (TP) A Nos.2-4/Chny/2021 :: 3 :: restore the appeals, in case application filed by the assessee before the Designated Authority, is rejected for any reason. 4. In the result, appeals filed by the assessee are dismissed as withdrawn. Order pronounced on the 13 th day of December, 2022, in Chennai. Sd/- (वी. दुगा राव) (V. DURGA RAO) "ाियक सद,/JUDICIAL MEMBER Sd/- (जी. मंजूनाथा) (G. MANJUNATHA) लेखा सद,/ACCOUNTANT MEMBER चे%ई/Chennai, िदनांक/Dated: 13 th December, 2022. TLN आदेश की ितिलिप अ0ेिषत/Copy to: 1. अपीलाथ /Appellant 4. आयकर आयु1/CIT 2. थ /Respondent 5. िवभागीय ितिनिध/DR 3. आयकर आयु1 (अपील)/CIT(A) 6. गाड फाईल/GF