NITIN INVOFIN TRADE P.LTD,NEW DELHI vs. ACIT, CIRCLE-18(2), NEW DELHI

ORDER PER ANADEE NATH MISSHRA, AM: (A) This appeal by Assessee is filed against the order of Learned

Commissioner of Income Tax (Appeals)-6, Delhi [Ld. CIT(A)”, for short], dated 30/05/2019 for Assessment Year 2014-15. Grounds taken in this appeal are as under:

“1. That the Learned Commissioner of Income Tax (Appeal)-6, Delhi has grossly erred both in law and, on facts and in law disallowing the Nitin Invofin Trade P. Ltd. vs. ACIT business of Rs.66,22,511/- under section 37(1) of the Income Tax Act, 1961.

(B) Vide letter dated 12.11.2022, it was intimated that the assessee opted for Vivad se Vishwas Scheme, 2020 (“VSVS”, for short) and that the Designated Authority had already issued Form-5 under VSVS. A copy of Form-5 issued by the Designated Authority was also enclosed with the aforesaid letter; and the assessee applied for withdrawal of appeal. The learned Sr. DR for Revenue submitted before us, at the time of hearing, that the appeal has become infructuous in view of the assessee opting for VSVS; and that the appeal may be dismissed as withdrawn. After due consideration and in view of the foregoing, we are of the opinion that this appeal has become infructuous on account of aforesaid VSVS, and that this appeal may be treated as withdrawn on account of the aforesaid VSVS. Accordingly, this appeal having become infructuous, is treated as withdrawn and is hereby dismissed.

Nitin Invofin Trade P. Ltd. vs. ACIT (B.1) Before we part, we hereby clarify, by way of abundant caution, that if for some reason the disputes under this appeal before us are not settled under the aforesaid VSVS, then the assessee will be at liberty to approach ITAT for restoration of this appeal in accordance with law.

(C) In the result, this appeal by Revenue is dismissed.