LM WIND POWER BLADES (INDIA) PRIVATE LIMITED,BANGALORE V. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(1)(1), BANGALORE

ITA 275/BANG/2021

AI Insights

The case involved M/s. LM Wind Power Blades (India) Private Limited, which appealed against an order from the Assessing Officer (AO) dated 15.4.2021 for the Assessment Year 2016-17. The company opted to settle the quantum assessment dispute under the DTVSV, 2024, and filed the necessary forms to initiate this settlement process. The appeal was heard by the Income Tax Appellate Tribunal in Bangalore, where the company's representative requested the withdrawal of the appeal following the settlement procedure under the DTVSV scheme. The Departmental Representative did not object to this request. Consequently, the Tribunal dismissed the appeal as withdrawn, referencing the provisions of section 91(2) of the DTVSV Scheme, 2024, which allows for the withdrawal of appeals upon the issuance of a settlement certificate.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 652660 (ITAT-BANGALORE)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-06-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2016-2017
• Laws Referred To: Direct Tax Vivad se Vishwas Scheme, 2024
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 92

Judgement Text

"IT(TP)A No.275/Bang/2021 M/s. LM Wing Power Blades (India) Private Limited, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI PRAKASH CHAND YADAV, JUDICIAL MEMBER IT(TP)A No.275/Bang/2021 Assessment Year: 2016-17 M/s. LM Wind Power Blades (India) Private Limited Plot No.85, KIADB Industrial Area Dabaspet Nelamangala Taluk Bangalore Karnataka 562 111 PAN NO : AAACL3093R Vs. DCIT Circle 4(1)(1) Bangalore APPELLANT RESPONDENT Appellant by : Respondent by : Date of Hearing : 12.06.2025 Date of Pronouncement : 16.06.2025 O R D E R PER PRAKASH CHAND YADAV, JUDICIAL MEMBER: This appeal at the instance of the assessee is directed against the order of the ld. AO dated 15.4.2021 for the AY 2016-17. 2. The assessee has raised 11 grounds of appeal. 3. At the outset, the ld. A.R. for the assessee drawn our attention to a letter dated 5.3.2025 wherein it is submitted that the assessee had opted to settle the case of quantum assessment under VSVS, 2024 and accordingly filed the Form 1 DTVSV 2024 for the settlement of the disputes under the Direct Tax Vivad se Vishwas, 2024 and the ld. Principal CIT, Bangalore-2 had issued the Form-2 dated IT(TP)A No.275/Bang/2021 M/s. LM Wing Power Blades (India) Private Limited, Bangalore Page 2 of 3 20.1.2025. Accordingly, the AR of the assessee requested to allow for the withdrawal of appeal. 4. Ld. D.R. on the other hand has no objection for the request of withdraw of the appeal made by the assessee as the assessee has opted for DTVSV 2024. 5. We have heard the rival submissions and perused the materials available on record. As per the provisions of section 91(2) of the DTVSV Scheme, 2024, any appeal pending before the ITAT or CIT(A) in respect of disputed interest or disputed penalty or disputed fee or tax arrears shall be deemed to have been withdrawn upon the issuance of certificate u/s 92(1) of the DTVSV Scheme, 2024. 5.1 On going through the letter along with the enclosures filed on 5.3.2025, we find that the Form No.2 i.e. Certificate under sub- section (1) of section 92 of the Finance (2) Act, 2024, is issued by the ld. Principal Commissioner of Income Tax on 20.01.2025. Further, intimation of payment under sub-section (2) of section 92 of the Finance (No.2) Act, 2024 is filed by the assessee on 4.2.2025 vide acknowledgement No.858981110040225 and accordingly the Form No.4 i.e. Order for full & final settlement of tax arrears under sub- section (2) of section 92 r.w.s. 93 of the Finance (2) Act, 2024 is awaited from the. This Being so, we, accordingly, as per the request letter dated 5.3.2025, dismiss this appeal of the assessee for the assessment year 2016-17 as withdrawn. IT(TP)A No.275/Bang/2021 M/s. LM Wing Power Blades (India) Private Limited, Bangalore Page 3 of 3 6. In the result, appeal filed by the assessee is dismissed as withdrawn. Order pronounced in the open court on 16th Jun, 2025 Sd/- (Waseem Ahmed) Accountant Member Sd/- (Prakash Chand Yadav) Judicial Member Bangalore, Dated 16th Jun, 2025. VG/SPS Copy to: 1. The Applicant 2. The Respondent 3. The CIT 4. The DR, ITAT, Bangalore. 5 Guard file By order Asst. Registrar, ITAT, Bangalore. "