SH. MAHARAJ KRISHAN GUPTA & SONS (HUF),LUDHIANA vs. ITO, W-6(4), LUDHIANA

The above two appeals relate to the assessee in his individual capacity and to his HUF and have been preferred & 671/Chd/2019 A.Y. 2011-12 Page 2 of 4 against the order of the Commissioner of Income Tax (Appeals)-3, Ludhiana dated 19.03.2019 and 14.03.2019 respectively, passed u/s 250(6)) of the Income Tax Act, 1961 (hereinafter referred to as ‘Act’. Both the appeals relate to assessment year 2011-12.

At the outset, Ld. Counsel for the assessee has submitted that since the assessee’s application for settling the dispute under the 'Vivad Se Vishwas Scheme, 2020'(VSV) has been accepted by the Income Tax Department and Form No.3 has been issued evidencing the same, therefore, he intends to withdraw the present appeals. Separate applications dated 23.02.2021 for withdrawal of both the appeals have been submitted by the ld. Counsel for the assessee. The ld. DR did not object to the same.

We have perused the records and documents before us and find that the dispute in both the appeals stands settled under the VSV Scheme, which is evidenced by Form No.3 issued by the Department in this respect dated 26.10.2020 in both the cases. In view of the same, the assessees’ application to withdraw the appeal is accepted. & 671/Chd/2019 A.Y. 2011-12 Page 3 of 4

In the result, both the appeals, therefore, are hereby dismissed as 'Withdrawn'.