PREMNATH CREDIT & INVESTMENT CORPORATION LTD,NEW DELHI vs. ITO WARD 20(4), NEW DELHI

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ITA 3197/DEL/2019Status: DisposedITAT Delhi16 September 2022AY 2010-112 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, noting that the dispute was resolved under the Vivad Se Vishwas Scheme. The Designated Authority had issued Form No. 5, confirming the settlement.

What were the facts?

The assessee filed an appeal against an order for AY 2010-11. The assessee subsequently sought to withdraw the appeal as the dispute was settled under the Vivad Se Vishwas Scheme.

What were the issues?

The primary issue was whether the appeal should be withdrawn due to settlement under the Vivad Se Vishwas Scheme. The Tribunal considered the assessee's request and the Department's lack of objection.

AI-generated summary — verify with the full judgment below

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

Before: SHRI SAKTIJIT DEY & SHRI N.K. BILLAIYA

For Respondent: Shri Mrinal Kumar Das, Sr. DR
Hearing: 16.09.2022

This is an appeal by the assessee against order dated 13.02.2019 of learned Commissioner of Income Tax (Appeals)-7, New Delhi, for the assessment year 2010-11.

2.

When the appeal was called for hearing, none appeared for the assessee. However, assessee has furnished letter dated 17th June, 2022 seeking withdrawal of the appeal as the dispute arising in the appeal has been settled under the Vivad Se Vishwas Scheme, 2020. Learned Departmental Representative (DR) did not object to assessee’s request for withdrawal of the appeal.

3.

We have heard learned Departmental Representative and perused the material on record. It is observed, accepting assessee’s declaration filed under the Vivad Se Vishwas Scheme, 2020, the Designated Authority has issued Form No. 5. Thus, for all practical purposes, the dispute arising in the present appeal stands resolved. Therefore, accepting assessee’s prayer, we permit withdrawal of the present appeal. Accordingly, appeal is dismissed as withdrawn.

4.

In the result appeal is dismissed.

Order pronounced in the open court at time of hearing itself i.e. on 16th September, 2022.

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