ACIT, CIRCLE- 18(1), NEW DELHI vs. NEARBUY INDIA P.LTD, NEW DELHI

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ITA 7735/DEL/2019Status: HeardITAT Delhi14 September 2022AY 2016-172 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the impugned appeal was listed as pending under the Vivad se Vishwas Act. Therefore, the appeal was treated as infructuous.

What were the facts?

The revenue appealed against the CIT(A)'s order regarding disallowance of AMP expenses. The assessee stated that the dispute was settled under the Vivad se Vishwas Act, 2020.

What were the issues?

Whether the appeal is infructuous due to settlement under the Vivad se Vishwas Act, 2020.

Which sections of the Income-tax Act were involved?

N/A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI

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

Hearing: 14/09/2022Pronounced: 14/09/2022

This appeal by the revenue is preferred against the order of the CIT(A)-6, Delhi dated 05.07.2019 for A.Y.2016-17.

2.

The solitary grievance of the revenue is that the CIT(A) erred in not upholding the disallowance amounting to Rs.211625723/- made by the AO on account of AMP expenses.

3.

At the very outset the Counsel for the assessee stated that the impugned quarrel has been settled by the assessee under the VSVS Act, 2020. The Counsel submitted form 3 and form 4 in support of his submission.

4.

We have carefully perused form 3 wherein the details of pending appeal has a reference to which is the impugned appeal.

5.

Noting the contents and the submission of the Counsel this appeal by the revenue is treated as infructuous. However, the revenue is given a liberty to approach this Tribunal if the AO finds that the impugned quarrel has not been settled under the VSVS 2020.

6.

Decision announced in the open court on 14.09.2022.

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