M/S A.C. & S. SECURITIES LTD.,LUDHIANA vs. ITO, LUDHIANA

The present appeal has been filed by the assessee challenging the order of ld. Commissioner of Income Tax (Appeals)- II, Ludhiana, (hereinafter referred to as CIT(A)- . 268-c2017 M/s A.C. & S. Securities Ltd., Ludhiana ) dated 25.11.2016 for the assessment year 2012-13, passed u/s 250(6) of the Income Tax Act,1961( in short “Act”).

At the outset ld. Counsel for the assessee stated that it had applied for settlement of the dispute under the “Vivad Se Vishwas Scheme-2020”,which stood accepted by the department ,having issued Form-3 ,dated 31/12/2020 ,to the assessee. Copy of the same was filed before us. Ld. Counsel for the assessee stated that the dispute would stand settled only on payment of the taxes due as stated in Form -3 and since the assessee was making necessary arrangements for payment of the same, it may be allowed conditional withdrawal of the appeal,with the liberty to get it restored in case the assessee is unable to finally settle the dispute on account of non payment of taxes or any other reason.

In view of the above therefore the appeal of the assessee is dismissed, with the liberty granted to the assessee to get the appeal restored in case it is unable to settle the dispute under Vivad Se Vishwas Scheme-2020.