CRYOVIVA BIOTECH PRIVATE LIMITED,NEW DELHI vs. ACIT CIRCLE-6(2), NEW DELHI

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ITA 1624/DEL/2020Status: DisposedITAT Delhi11 August 2022AY 2017-183 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. This decision was made subject to the condition that if the dispute is not resolved under the Vivad Se Vishwas Scheme, the assessee can seek reinstitution of the appeal.

What were the facts?

The assessee sought withdrawal of their appeal before the ITAT. This was because the assessee had opted to settle the tax dispute for the assessment year under consideration under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

The primary issue was whether the assessee's appeal should be withdrawn due to opting for the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH : B : NEW DELHI

Before: SHRI C.M. GARG & SHRI ANADEE NATH MISSHRA

For Appellant: Shri Divyansh Jain, Advocate
For Respondent: Shri R.S. Yadav, Sr. DR
Hearing: 11.08.2022Pronounced: 11.08.2022

BEFORE SHRI C.M. GARG, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER Assessment Year: 2017-18 Cryoviva Biotech Private Limited, Vs. ACIT, F-2/7, Okhla Industrial Area, Circle-6(2), Phase I, New Delhi, New Delhi. Delhi – 110 001. PAN: AACCC6069Q (Appellant) (Respondent) Assessee by : Shri Divyansh Jain, Advocate Revenue by : Shri R.S. Yadav, Sr. DR Date of Hearing : 11.08.2022 Date of Pronouncement : 11.08.2022 ORDER

PER C.M. GARG, JM:

1.

This appeal filed by the assessee is directed against the order dated 11.08.2020 of the CIT(A)-2, New Delhi, relating to Assessment Year 2017-18.

2.

The ld. Counsel for the assessee, at the time of hearing, sought withdrawal of the appeal filed by the assessee stating that the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration under the Vivad Se Vishwas Scheme, 2020. However, Form No.3 is yet to be obtained. He accordingly submitted that this appeal may be allowed to be withdrawn. 3. In absence of any objection from the side of the ld. Sr. DR, the request of the assessee for withdrawal of the appeal is allowed.

4.

However, the aforesaid is subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of the aforesaid Scheme, the assessee shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriately as per law. The Revenue has no objection with regard to the aforesaid caveat.

5.

In view of the aforesaid, the appeal is consigned to record and, for statistical purposes, is treated as dismissed.

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