NITREX CHEMICALS INDIA LTD.,NEW DELHI vs. ACIT CIRCLE-18(2), NEW DELHI

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ITA 1158/DEL/2020Status: HeardITAT Delhi31 October 2022AY 2015-162 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal allowed the assessee's request to withdraw the appeal. The appeal was dismissed as withdrawn based on the assessee's participation in the Vivad Se Vishwas Scheme.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order. During the hearing, the assessee sought to withdraw the appeal as they had opted for the Vivad Se Vishwas Scheme, 2020.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal due to opting for the Vivad Se Vishwas Scheme, which was granted by the Tribunal.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “E”: NEW DELHI

Before: SHRI NARENDRA KUMAR BILLAIYA & SHRI KUL BHARAT

Hearing: 31.10.2022Pronounced: 31.10.2022

O R D E R PER KUL BHARAT, JM:

This appeal, by the assessee, is directed against the order of the learned Commissioner of Income-tax (Appeals)-37, New Delhi, dated 30.01.2020, pertaining to the assessment year 2015-16. The assessee has raised following grounds of appeal:

“1. That the learned CIT(A) has erred in law and facts by not quashing the order and therefore the ld. AO should be directed to accept returned income.

2. That the learned CIT(A) has erred in law and facts by confirming the action of the ld. AO of treatment of capital expenses out of repair and maintenance and Stores Consumed of Rs. 17,62,114/- (before reducing depreciation) and therefore the ld. Assessing Officer is to be directed to allow the same in full while computing total income.

3. That the learned CIT(A) has erred in law and facts by confirming the action of the ld. AO for initiating penalty proceedings u/s 271(1)(c) of the Act and therefore ld. AO should be directed to drop the aid penalty proceedings.

2 ITA 1158/Del/2020 4. That your appellant craves a leave to add, alter or amend any grounds at the time of hearing.”

2.

At the hearing the authorized Representative of the assessee filed an application seeking permission of the Tribunal for withdrawal of the appeal on the ground that for the assessment year in question the assessee has opted for VIVAD SE VISHWAS SCHEME, 2020 and the Designated Authority has also issued Form no.

5.

In support, a copy of Form no. 5 for full and final settlement of tax arrears u/s 5(2) read with Section 6 of the Direct Tax Vivad Se Vishwas Act, 2020 has also been filed along with the application.

3.

In view of above and in absence of any objection from the side of the Ld. D.R, the request of the assessee seeking for withdrawal of the appeal is allowed.

4.

In the result, appeal of the assessee is dismissed as withdrawn.

Order pronounced in open court on 31.10.2022.

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