Goutamchand Jain Kantilal, Hyderabad v. Dy. Commissioner of Income Tax , Central Circle-1(2), Hyderabad

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A HYDERABAD (THROUGH VIRTUAL HEARING) BEFORE SMT. P. MADHAVI DEVI JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY ACCOUNTANT MEMBER ITA NO. 171/HYD/2018 A.Y. 2014 - 15 GOUTAM CHAND JAIN KANTILAL SECUNDERABAD. PAN: AEDPK 3396 L VS. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(2) HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI K.C. DEVDAS REVENUE BY: SHRI SUNIL KUMAR PANDEY DR DATE OF HEARING: 18 /03/2021 DATE OF PRONOUNCEMENT: 23 /03/2021 ORDER PER A. MOHAN ALANKAMONY A.M: THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) - 4 HYDERABAD IN APPEAL NO. 0063/2017 - 18/DCIT CC - 1(2)/CIT(A) - 4/HYD/17 - 18 DATED 20/11/2017 PASSED U/S. 271AAB R.W.S 250(6) OF THE ACT FOR THE A.Y. 2014 - 15. 2. AT THE OUTSET LD.AR SUBMITTED BEFORE US THAT THE ASSESSEE DESIRES TO WITHDRAW H IS APPEAL AS THE ASSESSEE HAS OPTED TO AVAIL VIVAD SE 2 VISWAS SCHEME. HE FURTHER SUBMITTED THAT THE ASSESSEE HAD FILED FORM NO.1 & 2 AND ALSO RECEIVED FORM - 3 FROM THE REVENUE. IT WAS THEREFORE PLEADED THAT THE APPEAL OF THE ASSESSEE MAY BE ALLOWED TO BE WITHDRAWN. 3.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 HAVING HEARD BOTH THE PARTIES THROUGH VIDEO CONFERENCE WE ARE INCLINED TO ALLOW THE APPEAL OF THE ASSESSEE TO BE WITHDRAWN YIELDING TO THE PRAYER OF THE LD. AR AS THE ASSESSEE HAS PREFERRED TO AVAIL THE VIVAD - SE - VISHWAS SCHEME BY FILING FORMS NO.1 2 AND ALSO RECEIVED FORM NO.3 FROM THE REVENUE. THE LD. DR HAS ALSO CONCEDED TO THE REQUEST OF THE LD. AR. ACCORDINGLY WE HEREBY DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN. HOWEVER WE ALSO MAKE IT CLEAR THAT IF THE ASSESSEES CASE IS NOT ACCEPTE D 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 ORDERE D ACCORDINGLY. 5. IN THE RESULT APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. 3 PRONOUNCED IN THE OPEN COURT ON 23 RD MARCH 2021. S D/ - SD/ - ( SMT. P. MADHAVI DEVI ) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD DATED: 23 RD MARCH 2021. OKK COPY TO: - 1) GOUTAM CHAND JAIN KANTILAL C/O. K.C. DEVDAS CHARTERED ACCOUNTANT M/S. SEKHAR & CO. CHARTERED ACCOUNTANTS 133/4 BIBLE HOUSE R.P. ROAD 2) THE DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(2) HYDERABAD. 3) THE CIT (A) - 4 HYDERABAD. 4) THE PR. CIT - 4 HYDERABAD. 5) THE DR ITAT HYDERABAD 6) GUARD FILE