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Income Tax Appellate Tribunal, DELHI BENCH ‘G’: 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)-5, New Delhi [Ld. CIT(A)”, for short], dated 30.05.2019 for Assessment Year 2013-14.
Grounds taken in this appeal are as under:
“1. That the Ld. Commissioner of Income Tax (Appeals)-V, New Delhi has confirmed the addition made by Ld. ACIT on account of long term capital gain of Rs.1,40,34,693/- on sale of shares sold on recognized stock Sangeeta Ajay Aggarwal Vs. ITO exchange and eligible for exemption u/s 10(38) of the Act and bringing to tax as unexplained cash credit u/s 68.
The Ld. Commissioner of Income Tax (Appeals)-V, New Delhi has erred both on facts and in law in confirming the addition of Rs.1,40,350/- made by Ld. ACIT by presuming that the assessee had paid Commission of Rs.1,40,350/- without any basis and without any sources of such cash generation during the year.” (B) At the time of hearing, no one was present on behalf of the assessee. However, through a written communication vide letter dated 23rd August, 2022, filed in Income Tax Appellate Tribunal from the assessee’s side, it has been intimated that the assessee has opted to settle the aforementioned appeal under Vivad se Vishwas Scheme, 2020 (“VSVS”, for short) and that the Designated Authority has already issued Form-5 under VSVS. We took notice of the aforesaid letter dated 23.08.2022. Copy of Form-5 issued by Designated Authority under VSVS was also enclosed with the aforesaid letter. Learned Senior Departmental Representative for Revenue submitted before us that this appeal may be treated as withdrawn and may be dismissed on account of the aforesaid VSVS.
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of the opinion that this appeal has become infructuous on account of aforesaid VSVS, and this appeal may be treated as withdrawn on account of the aforesaid VSVS. Accordingly, this appeal having
Sangeeta Ajay Aggarwal Vs. ITO become infructuous, is treated as withdrawn and is hereby dismissed.
(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 is dismissed.
This order was already pronounced orally on 25th August, 2022 in Open Court, in the presence of Learned Sr. Departmental Representative, after conclusion of the hearing. Now this order in writing is signed today on 30/08/2022.