PANCHSHEEL SECURITIES PVT. LTD.,NEW DELHI vs. ITO, WARD- 19(3), NEW DELHI

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ITA 1877/DEL/2018Status: DisposedITAT Delhi01 February 2023AY 2009-103 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 noted that the Act of 2020 provides for the deemed withdrawal of pending appeals upon issuance of a certificate. Therefore, the appeal was dismissed.

What were the facts?

The assessee filed an appeal before the ITAT. The assessee subsequently filed an application for withdrawal of the appeal due to a settlement reached under the Direct Tax Vivad Se Vishwas Act, 2020.

What were the issues?

Whether an appeal pending before the ITAT is deemed withdrawn upon settlement under the Vivad Se Vishwas Act, 2020.

Which sections of the Income-tax Act were involved?

Section 4(2) of the Vivad Se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI

Before: SH. N.K.BILLAIYA & Ms. ASTHA CHANDRA

For Appellant: Shri Pawan Kumar, AR
For Respondent: Shri Vivek Vardhan, Sr. DR
Hearing: 01.02.2023Pronounced: 01.02.2023

This appeal has been preferred by the assessee against the order dated 13.02.2018 passed by the Ld. Commissioner of Income Tax (Appeals)- XXV, New Delhi pertaining to Assessment Year 2009-10.

2.

Heard and perused the record. An application has been filed for withdrawal of the appeal by the assessee, in furtherance of settlement arrived under the Direct Tax Vivad Se Vishwas Act, 2020 (the “Act of 2020”).

Panchsheel Securities 2 3. On behalf of the appellant, a copy of Form 1 to 5 under the Act of 2020 has been placed on record.

4.

Sub-section (2) of section 4 of the Act of 2020 provides that on issuance of certificate under sub-section (1) of section 5 by the designated authority the appeal pending before this Tribunal shall be deemed to have been withdrawn from the date on which the said certificate is issued.

5.

In the light of aforesaid, the appeal in hand stands dismissed.

6.

However, 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 Act of 2020, 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. Order pronounced in the open court on 1st February, 2023.

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