VENKATA SRI BALAJI EXPORTS,ONGOLE V. .ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, GUNTUR

ITA 137/VIZ/2024

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The case involves M/s. Venkata Sri Balaji Exports, who appealed against the order of the Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, concerning the assessment year 2021-22. The appeal arose from an order passed under section 143(3) of the Income Tax Act, 1961. The assessee decided to withdraw the appeal as they opted for the 'Vivad Se Viswas' scheme, a government initiative aimed at resolving pending tax disputes. The Tribunal, after hearing the parties, allowed the withdrawal of the appeal, acknowledging the assessee's decision to participate in the aforementioned scheme.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 46570 (ITAT-VISAKHAPATNAM)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-12-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2021-2022
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3)

Judgement Text

"आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM “DIVISION” BENCH, VISAKHAPATNAM श्री दुव्वुरु आरएल रेड्डी, उपाध्यक्ष एिं श्री एस बालाक ृष्णन, लेखा सदस्य क े समक्ष BEFORE SHRI DUVVURU RL REDDY, HON’BLE VICE-PRESIDENT & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.137/VIZ/2024 (निर्धारण वर्ा/ Assessment Year: 2021-22) M/s. Venkata Sri Balaji Exports 197/5, 8, 9, 13, 14 Energy Limited Gundlapalli Maddipadu Ongole – 523001 Andhra Pradesh [PAN: ABAFM6229L] v. Asst. CIT – Circle – 1 Guntur - 522006 Andhra Pradesh (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ Assessee Represented by : Shri C. Subrahmanyam, AR राजस्व का प्रतततितित्व/ Department Represented by : Dr. Aparna Villuri, Sr.AR सुिवाई समाप्त होिे की ततति/ Date of Conclusion of Hearing : 19.12.2024 घोर्णध की तधरीख/Date of Pronouncement : 19.12.2024 आदेश /O R D E R PER SHRI DUVVURU RL REDDY, HON’BLE VICE-PRESIDENT: 1. This appeal is filed by the assessee against the order of Learned Commissioner of Income Tax (Appeals), National Faceless Appeal centre, Delhi [hereinafter in short “Ld.CIT(A)”] vide DIN & Order No. ITBA/NFAC/S/250/2023-24/1061772927(1) dated 29.02.2024 for the I.T.A.No.137/VIZ/2024 M/s. Venkata Sri Balaji Exports Page No. 2 A.Y.2021-22 arising out of order passed under section 143(3) of the Income Tax Act, 1961 (in short ‘Act’) dated 28.12.2022. 2. At the outset, Ld.AR submitted before us that the assessee desires to withdraw its appeal as he has opted to avail ‘Vivad Se Viswas’ scheme and accordingly, the assessee has filed Form No.1. It was therefore, pleaded that the appeal of the assessee may be allowed to be withdrawn. 3. The Ld. DR conceded to the request of the Ld.AR. 4. Having heard both the parties, we are inclined to allow the appeal of the assessee to be withdrawn yielding to the prayer of the Ld.AR and accordingly, hereby dismiss the appeal as withdrawn. However, we also make it clear that, if the assessee’s case is not accepted in the Vivad Se Viswas scheme by the Revenue for whatsoever may be the reason, then the assessee shall be at liberty to file a Miscellaneous Petition before the Tribunal within the time limit prescribed under the Act to reinstate the appeal. It is ordered accordingly. 5. In the result, the appeal of assessee is dismissed as withdrawn. Order pronounced in the open court on 19thDecember, 2024. Sd/- (एस बालाक ृष्णन) (S. BALAKRISHNAN) लेखा सदस्य/ACCOUNTANT MEMBER Sd/- (दुव्वूरु आर.एल रेड्डी)) (DUVVURU RL REDDY) उपाध्यक्ष /VICE PRESIDENT Dated:19.12.2024 Giridhar, Sr.PS I.T.A.No.137/VIZ/2024 M/s. Venkata Sri Balaji Exports Page No. 3 आदेश की प्रनतनलनप अग्रेनर्त / Copy of the order forwarded to:- 1. निर्धाररती/ The Assessee : M/s. Venkata Sri Balaji Exports 197/5, 8, 9, 13, 14 Energy Limited Gundlapalli Maddipadu Ongole – 523001 Andhra Pradesh 2. रधजस्व/ The Revenue : Asst. CIT – Circle – 1 Guntur - 522006 Andhra Pradesh 3. The Principal Commissioner of Income Tax 4. नवभधगीय प्रनतनिनर्, आयकर अपीलीय अनर्करण, नवशधखधपटणम /DR,ITAT, Visakhapatnam 5. The Commissioner of Income Tax 6. गधर्ा फ़धईल / Guard file //True Copy// आदेशधिुसधर / BY ORDER Sr. Private Secretary ITAT, Visakhapatnam "