DCIT, CIRCLE-1(2), NEW DELHI vs. AFFLIAS INDIA P.LTD, DELHI

Per Dr. B. R. R. Kumar, Accountant Member:

• Addition of Rs.1,45,00,998/- has been made on account of adjustment of ALP by the Assessing Officer.

• Aggrieved, the assessee filed appeal before the ld. CIT(A).

• The ld. CIT(A) confirmed the order of the AO.

• Aggrieved with the order of the ld. CIT(A), the assessee filed appeal before the Tribunal vide appeal No. 2710/Del/2008 and also an appeal has been filed by the Revenue vide appeal No. 2597/Del/2018 disputing the relief given on account of comparables.

• The assessee has opted for Vivad-Se-Viswas Act and reduced carry forward of unabsorbed losses and an unabsorbed depreciation.

• The Form 5 has been issued by ld. PCIT, Delhi-1 on 05.02.2021.

• The appeal of the assessee in has been dismissed as withdrawn by the ITAT vide order dated 20.01.2021.

• In view of the above, the appeal of the Revenue before us is liable to be dismissed owing to settlement of the entire addition under the Vivad-se-Viswas Scheme.

• Further, the tax effect of the case is Rs.44,80,080/- on the ALP adjustment of Rs.1,45,00,998/-, hence as per the CBDT Circular No. 17/2019 dated 08/08/2019 dealing with appeals of Revenue, the present appeal is liable to be dismissed.