DELHI TRANSCO LTD.,NEW DELHI vs. ACIT, CIRCLE-7(1), NEW DELHI

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ITA 256/DEL/2020Status: DisposedITAT Delhi21 February 2023AY 2014-152 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the assessee's appeal as withdrawn, subject to the condition that if the dispute is not resolved under the VSV Act, the assessee can seek reinstitution of the appeal.

What were the facts?

The assessee opted for the Vivad Se Vishwas (VSV) Scheme, 2020, and filed the necessary declaration and undertaking. The department issued Form No. 5 under the scheme.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal due to opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Vivad Se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘B’, NEW DELHI

For Appellant: Shri R. R. Gupta, C.A
For Respondent: Shri T. James Singson, CIT-D.R
Hearing: 13.02.2023Pronounced: 21.02.2023

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. YOGESH KUMAR US, JUDICIAL MEMBER (Assessment Year : 2014-15) Delhi Transco Ltd. Vs. ACIT Shakti Sadan, Kotla Road, Circle – 7(1), New Delhi – 110 002 New Delhi PAN No. AABCD 6342 A (APPELLANT) (RESPONDENT) Assessee by Shri R. R. Gupta, C.A. Revenue by Shri T. James Singson, CIT-D.R. Date of hearing: 13.02.2023 Date of Pronouncement: 21.02.2023 ORDER PER ANIL CHATURVEDI, AM :

This appeal filed by the assessee is directed against the order dated 15.11.2019 of the Commissioner of Income Tax (Appeals)-3, New Delhi relating to Assessment Year 2014-15.

2.

Before us, assessee has moved an application wherein assessee has stated that it has opted for Vivad Se Vishwas (VSV) 2020 and has filed the declaration (Form-1) and undertaking (Form-2) Scheme and department had issued Form No. - 5. The assessee therefore seeks to withdraw the appeal, to which the Revenue has no objection.

3.

After considering the request made by the assessee, we dismiss the appeal of assessee as withdrawn subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of the aforesaid Act, the assessee shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriately as per law. With these directions, appeal of the assessee is dismissed as withdrawn.

4.

In the result, appeal of the assessee is dismissed.

Order pronounced in the open court on 21.02.2023

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