ACIT, CIRCLE-14(1), NEW DELHI vs. KARVY INNOTECH LTD, NEW DELHI

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ITA 7853/DEL/2019Status: DisposedITAT Delhi24 July 2025AY 2015-16Bench: SHRI ANUBHAV SHARMA (Judicial Member), SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER | Sl. No | ITA/CO No(s) | Asst. Year(s) | Appeal(s) by Appellant | Respondent | | ------ | ------------------------ | ------------- | -------------------------------------------------------------------------------------- | ------------------------------------------------------------------ | | 1. | ITA No. 7638/Del/2019 | 2015-16 | Karvy Innotech Ltd Flat No. 502 & 503, 5th Floor, Arunachal Building, 19, Bara4 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed both the assessee's appeals and the cross appeals by the Revenue as withdrawn. Liberty was granted to the assessee to revive the appeals should the application under the Vivad se Vishwas Scheme, 2024, fail to mature for any reason.

What were the facts?

The assessee and the Revenue filed appeals concerning assessment years 2015-16 and 2016-17. The assessee subsequently opted to settle the issues under the Vivad se Vishwas Scheme, 2024, and filed an application for withdrawal of its appeals.

What were the issues?

Whether appeals should be dismissed as withdrawn when the assessee opts for settlement under the Vivad se Vishwas Scheme, with a provision for revival if the scheme application fails.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI ‘F’ BENCH,

Before: SHRI ANUBHAV SHARMA & SHRI AMITABH SHUKLA

For Appellant: Ms. Aditi Gupta, Adv, Shri Abdvuah Mustaqueem, Adv
For Respondent: Ms. Monica Singh, CIT-DR
Hearing: 24.07.2025Pronounced: 24.07.2025

Heard together (4 matters)

ITA No. 7638/Del/2019
ITA No. 7639/Del/2019
ITA No. 7853/Del/2019
ITA No. 7654/Del/2019

Read from the judgment's own cause title. This page is filed under one of them.

revenue are directed against the order of Assessing Officer for A.Ys 2015- 16 and 2016-17 respectively.

2.

The assessee has filed application for withdrawal of its appeals as the assessee has opted to settle the issues under the Vivad se Vishwas Scheme, 2024 [in short ‘VSVS’]. The assessee has placed on record copy of Form No. I and 2 filed under VSVS, 2024. The ld. counsel for assessee prayed for liberty to revive appeals in case applications of assessee fail to mature for any reason under Vivad se Vishwas Scheme, 2024.

3.

The ld. DR raised no objection to withdrawal of appeals by the assessees.

4.

Both sides heard. In light of application made by the assessee, appeals of assessee and Revenue are dismissed as withdrawn as assessees have opted to settle the issue under Vivad se Vishwas Scheme.

Liberty is granted to assessee to revive the appeals in case application of assessee under Vivad se Vishwas Scheme, 2024 fails to mature.

5.

In the result, appeals of assessees in 7639/DEL/2019 and appeals of the Revenue in and 7854/DEL/2019 are dismissed as withdrawn. The order is pronounced in the open court on 24.07.2025.

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