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Income Tax Appellate Tribunal, DELHI
Before: SH. N.K.BILLAIYA & Ms. ASTHA CHANDRA
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.
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.
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(1) of section 5 by the designated authority the appeal pending before this Tribunal shall be deemed to have been withdrawn from the date on which the said certificate is issued.
In the light of aforesaid, the appeal in hand stands dismissed.
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.