NIPPON SIGNAL CO LTD,CHENNAI V. ASST. COMMISSIONER, INTERNATIONAL TAXATION CIRCLE 2(2) OF INCOME TAX, CHENNAI

ITA 254/CHNY/2024

AI Insights

This case involves multiple appeals and cross-objections related to the assessment years 2014-15, 2018-19, and 2019-20, filed by Nippon Signal Co. Ltd. and the Assistant Commissioner of Income Tax, International Taxation, Circle-2(2), Chennai. The appeals were consolidated due to the assessee's decision to opt for the Direct Tax Vivad-se-Vishwas Scheme, 2024, which aims to resolve pending tax disputes. The assessee submitted Form-1 to withdraw its appeals, which was supported by Form-2 issued by the designated authority. The Departmental Representative did not object to this withdrawal. Consequently, all appeals and cross-objections were dismissed, allowing the assessee to potentially re-approach the Tribunal if necessary regarding the settlement under the scheme.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 107532 (ITAT-CHENNAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-02-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Laws Referred To: Direct Tax Vivad-se-Vishwas Scheme, 2024
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: GOUTHAMI MANIVASAGAM

Judgement Text

"आयकर अपीलीय अिधकरण, ’सी’ \u0010ा यपीठ, चे\u0015ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI \u0018ी एबी टी. वक\u001e, \u0010ा ियक सद एवं \u0018ी एस. आर. रघुनाथा, लेखा सद क े सम( BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI S.R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.254, 257 & 258/Chny/2024 िनधा;रण वष; /Assessment Years: 2014-15, 2018-19 & 2019-20 Nippon Signal Co. Ltd., 72, 2nd Floor, II Cross Street, Varalakshmi Nagar, Maduravoyal, Chennai – 600 092. Vs. The Asst. Commissioner of Income Tax, International Taxation, Circle-2(2), Chennai. [PAN: AADCT 7686B] (अपीलाथ\u0007/Appellant) (\b\tयथ\u0007/Respondent) आयकर अपील सं./ITA Nos.114, 115 & 116/Chny/2024 िनधा;रण वष; /Assessment Years: 2014-15, 2018-19 & 2019-20 The Asst. Commissioner of Income Tax, International Taxation, Circle-2(2), Chennai. Vs. Nippon Signal Co. Ltd., 72, 2nd Floor, II Cross Street, Varalakshmi Nagar, Maduravoyal, Chennai – 600 092. [PAN: AADCT 7686B] (अपीलाथ\u0007/Appellant) (\b\tयथ\u0007/Respondent) C.O Nos.43, 44 & 45/Chny/2024 (Arising in ITA Nos. 114, 115 & 116/Chny/2024) िनधा;रण वष; /Assessment Years: 2014-15, 2018-19 & 2019-20 Nippon Signal Co. Ltd., 72, 2nd Floor, II Cross Street, Varalakshmi Nagar, Maduravoyal, Chennai – 600 092. Vs. The Asst. Commissioner of Income Tax, International Taxation, Circle-2(2), Chennai. [PAN: AADCT 7686B] (अपीलाथ\u0007/Appellant) (\b\tयथ\u0007/Respondent) ITA Nos.254, 257 & 258/Chny/2024 ITA Nos.114, 115 & 116/Chny/2024 C.O Nos.43, 44 & 45/Chny/2024 (AYs – 2014-15, 2018-19 & 2019-20) Nippon Signal Co. Ltd., :- 2 -: अपीलाथ\u001e की ओर से/ Assessee/Cross Objector by : Mr. Tejas, C.A JKथ\u001e की ओर से /Revenue by : Mr. Gouthami Manivasagam, JCIT सुनवाई की तारीख/Date of Hearing : 21.02.2025 घोषणा की तारीख /Date of Pronouncement : 21.02.2025 आदेश / O R D E R PER BENCH: These appeals, filed by both the assessee and the Revenue, along with the cross-objections filed by the assessee, are arising out of the common orders passed by the Learned Commissioner of Income Tax (Appeals)-16, Chennai [in short ‘CIT(A)’] dated 01.12.2023 for the Assessment Years [in short ‘AY’] 2014-15, 2018-19 & 2019-20. Since the assessee opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024, all the appeals have been heard together. Accordingly, we dispose off all these appeals and cross objections by this consolidated order for the sake of convenience. 2. The Ld. Authorized Representative (A.R) of the assessee, at the outset stated that assessee has opted for Direct Tax Vivad-se-Vishwas Scheme, 2024 and therefore, wants to withdraw the appeals in ITA Nos.254, 257, 258/Chny/2024, which were filed by the assessee, as ITA Nos.254, 257 & 258/Chny/2024 ITA Nos.114, 115 & 116/Chny/2024 C.O Nos.43, 44 & 45/Chny/2024 (AYs – 2014-15, 2018-19 & 2019-20) Nippon Signal Co. Ltd., :- 3 -: well as the appeals in ITA Nos.114, 115 & 116/Chny/2024, which were filed by the Revenue. The Ld. A.R has submitted a copy of Form-1 filed by the assessee in the aforesaid cases/appeals, and Form-2 issued by the designated authority in all these cases, in order to support the aforesaid contention. 3. Per Contra, The Ld. Departmental Representative does not express any objection to the proposed withdrawal of appeals. 4. We have heard both the sides, and perused the materials available on record. In this case, the assessee has opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024 by filing Form-1. Pursuant to which, the Designated Authority has also issued Form No.2 for the settlement of pending tax dispute. The Ld. AR has now made a request to withdraw the captioned appeals. We allow the assessee to withdraw the appeals and dismiss the appeals as withdrawn. However, it is open to the assessee to approach the Tribunal by filing appropriate applications in the event of any prejudice caused in respect of the settlement of tax dispute under the Direct Tax Vivad-se- Vishwas Scheme, 2024. ITA Nos.254, 257 & 258/Chny/2024 ITA Nos.114, 115 & 116/Chny/2024 C.O Nos.43, 44 & 45/Chny/2024 (AYs – 2014-15, 2018-19 & 2019-20) Nippon Signal Co. Ltd., :- 4 -: 5. So far as the Cross Objections filed by the assessee in CO Nos.43, 44 & 45/Chny/2024 are concerned, the COs were filed in support of the appellate orders passed by the Ld. CIT(A). Since, we have dismissed the appeals filed by the Revenue, the COs filed by the assessee become infructuous and liable to be dismissed. Accordingly, the COs filed by the assessee are dismissed. 6. In the result, the appeals filed by the assessee in ITA Nos.254, 257 & 258/Chny/2024 and appeals filed by the Revenue in ITA Nos.114, 115 & 116/Chny/2024 are dismissed as withdrawn. The C.Os filed by the assessee in C.O Nos.43, 44 & 45/Chny/2024 are also dismissed. Order pronounced on 21st February, 2025, in Chennai. Sd/- Sd/- एस. आर. रघुनाथा) (S.R. Raghunatha) लेखा सद /Accountant Member (एबी टी. वक\u001e) (ABY. T. Varkey) \u0010ाियक सद / Judicial Member चे\u0010नई/Chennai, \u0013दनांक/Dated: 21st February, 2025. EDN/- ITA Nos.254, 257 & 258/Chny/2024 ITA Nos.114, 115 & 116/Chny/2024 C.O Nos.43, 44 & 45/Chny/2024 (AYs – 2014-15, 2018-19 & 2019-20) Nippon Signal Co. Ltd., :- 5 -: आदेश क\u0016 \bितिल\u0019प अ\u001aे\u0019षत/Copy to: 1. अपीलाथ\b/Appellant 2. \t थ\b/Respondent 3. आयकर आयु\u0010/CIT, Chennai 4. िवभागीय \tितिनिध/DR 5. गाड\u0019 फाईल/GF "