M/s. Stove Kraft Limited - Assessee can apply for a recall under VSV scheme if Form 1 & 2 are not accepted by the Department

Last updated: 04 January 2021

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The Income Tax Appellate Tribunal has ruled that M/s. Stove Kraft Limited can apply to recall their withdrawn appeals if the Department rejects their Forms 1 & 2 submitted under the Vivad Se Vishwas (VSV) scheme. The appeals were initially dismissed as withdrawn upon the assessee's request to pursue settlement through the VSV scheme.

Court :
ITAT Bangalore

Brief :
These appeals at the instance of the assessee are directed against various orders of CIT(A), all dated 13.12.2019. The relevant assessment years are 2011-2012 to 2013-2014.

Citation :
ITA No.274/Bang/2020

IN THE INCOME TAX APPELLATE TRIBUNAL
BANGALORE BENCHES “A”, BANGALORE

Before Shri George George K, JM & Shri B.R.Baskaran, AM

ITA No.269/Bang/2020 : Asst.Year 2011-2012
ITA No.270/Bang/2020 : Asst.Year 2011-2012
ITA No.271/Bang/2020 : Asst.Year 2012-2013
ITA No.272/Bang/2020 : Asst.Year 2012-2013
ITA No.273/Bang/2020 : Asst.Year 2013-2014
ITA No.274/Bang/2020 : Asst.Year 2013-2014

M/s.Stove Kraft Limited
81/1, Medamaranahalli
Harohalli Industrial Area
Kanakapura Taluk
Bengaluru – 562 112.
PAN : AADCS9958B.

vs.

The Asst.Commissioner of
Income-tax, TDS Circle 3(1)
Bangalore.
(Appellant) (Respondent)

Appellant by : Sri.Pradamchand Khincha, CA
Respondent by : Sri.Kannan Narayan, JCIT-DR
Date of Hearing : 31.12.2020
Date of Pronouncement : 31.12.2020

O R D E R

Per George George K, JM

These appeals at the instance of the assessee are directed against various orders of CIT(A), all dated 13.12.2019. The relevant assessment years are 2011-2012 to 2013-2014.

2. At the time of hearing before us, the learned Counsel for the assessee has furnished a letter dated 22nd December, 2020, wherein it is stated that the assessee has opted for filing the application under Direct Tax Vivad Se Vishwas Act, for settlement of the dispute, and accordingly, prayed that the appeals may be treated as withdrawn, with liberty to apply for a recall, if Form 1 & 2 filed by the assessee are not accepted by the Department for any reason.

4. We have heard the rival submissions and perused the material on record. In view of the submission of the learned Counsel for the assessee in his letter dated 22nd December, 2020, we dismissed the appeals as withdrawn. The assessee is given liberty to move appropriate application for recalling the present order in accordance with law, if the assessee intends to do so.

5. In the result, the appeals filed by the assessee are dismissed, as withdrawn.

Order pronounced on this 31st day of December, 2020.

Sd/- Sd/-
(B.R.Baskaran) (George George K)
ACCOUNTANT MEMBER JUDICIAL MEMBER

Bangalore; Dated : 31st December, 2020.
Devadas G*
Copy to :
1. The Appellant.
2. The Respondent.
3. The CIT(A)-9, Bangalore
4. The CIT-TDS, Bangalore.
5. The DR, ITAT, Bengaluru.
6. Guard File.

Asst.Registrar/ITAT, Bangalore

FAQ :

Yes, Stove Kraft Limited can apply for a recall of their withdrawn appeals if Forms 1 & 2 submitted under the VSV scheme are not accepted by the Department.

The case concerned Stove Kraft Limited's appeals for assessment years 2011-2014, which were withdrawn to pursue settlement under the Vivad Se Vishwas scheme.

The Tribunal dismissed the appeals as withdrawn, granting the assessee liberty to apply for a recall if their VSV scheme forms were rejected.

Stove Kraft Limited opted for settlement under the Direct Tax Vivad Se Vishwas Act.