RULINGS
AAR No. 534 of 2001
Decided On: 01.09.2004
Appellants: In Re: Antrix Corporation Ltd.
Vs.
Respondent:
Hon’ble Judges:
Syed Shah Mohammed Quadri, J. (Chairman) and K.D. Singh, Member
Counsels:
For Appellant/Petitioner/Plaintiff: K. Srinivasan, Adv.
For the CIT Concerned: G.V. Gopala Rao, Adv.
Subject: Direct Taxation
Acts/Rules/Orders:
Income Tax Act, 1961 – Section 245Q
Disposition:
Application dismissed
Head Note:
INCOME TAX
Advance ruling–WITHDRAWAL OF APPLICATIONNo clearance from Committee on Disputes (COD)Applicant referred the issue for the advance ruling without obtaining clearance from COD. The applicant stated that matter is still pending under consideration of COD.
Held: Applicant is permitted to withdraw the application with liberty to approach to authority in the event the COD grants clearance as the revenue has agreed that no steps would be taken against the applicant during next three months.
Income Tax Act, 1961 s.245Q
ORDER
Syed Shah Mohammed Quadri, J. (Chairman)
1. Heard Mr. K. Srinivasan for the applicant and Mr. G.V. Gopala Rao for the CIT-I. Bangalore.
2. This application has been filed under Section 245Q(1) of the IT Act, 1961 (for short ‘the Act’).
3. Clearance from the Committee on Dispute (COD) has not been obtained till date. We granted time to the applicant to approach the concerned Authority for obtaining clearance from the COD on 28th April, 2004. It represented that the matter is still pending consideration of COD and it is requested the case may be adjourned for three months.
4. Having regard to the circumstances of the case particularly the fact this application was filed as long as back in 2001, we suggested to Mr. Srinivasan that we would give option to the applicant to withdraw with liberty to approach the Authority in event COD grants clearance.
5. Mr. K. Srinivasan, submits that he would withdraw the ‘application accordingly. He, however, expressed apprehension that in the event of withdrawal, the Revenue authority may proceed against the applicant which will put the applicant in great hardship. Mr. G.V. Gopala Rao, Addl. CiT appearing for the Revenue, has agreed that for the period of three months from today no steps will be taken against the applicant.
6. Under these circumstances, the applicant is permitted to withdraw the application with liberty to approach this Authority in the event COD grants clearance.
7. The application is accordingly dismissed.