Madras HC directs Income Tax Dept. to process application under Direct Tax Vivad Se Vishwas Act, 2020 at the earliest communicate it to Assessee

The Madras High Court directed the Income Tax Department to process the application under Direct Tax Vivad Se Vishwas Act, 2020 at the earliest communicate it to the assessee.

The assessee, M/s.Fenner (India) Limited has filed the appeal under Section 260A of the Income Tax Act, 1961 against the order passed by the Income Tax Appellate Tribunal, Madras for the assessment year 2002-03.

The division bench of Justice T.S. Sivanaganam and Justice Sathi Kumar Sukumara Kurup said that the assessee has availed the benefit of Vivad Se Vishwas Scheme and the assessee had already been issued with Form-3 on 13.01.2021. At the same time, the interest of the assessee in the event the order to be passed by the Department under the Act is not in favour of the assessee is to be safeguarded. Accordingly, the Tax Case Appeal stands disposed of on the ground that the assessee has already been issued with Form-3 and the Department shall process the application at the earliest in accordance with the said Act and communicate the decision to the assessee at the earliest.

“The assessee is given liberty to restore the appeal in the event the ultimate decision to be taken on the declaration filed by the assessee under Section 4 of the said Act is not in favour of the assessee. If such a prayer is made, the Registry shall entertain the prayer without insisting upon any application to be filed for condonation of delay in restoration of the appeal and on such request made by the assessee by filing a Miscellaneous Petition for Restoration, the Registry shall place such petition before the Division Bench for orders,” the court ordered.

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