ACIT, CENTRAL CIRCLE-, NEW DELHI vs. UTECH DEVELOPERS LTD., NEW DELHI

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ITA 7016/DEL/2019Status: DisposedITAT Delhi15 July 2022AY 2016-173 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 dispute had been resolved under the Vivad se Vishwas scheme, as evidenced by the issuance of Form 5. Consequently, the appeal was rendered infructuous.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for AY 2016-17. The assessee submitted that the dispute was settled under the Direct Tax Vivad se Vishwas Act, 2020, and the designated authority issued Form 5.

What were the issues?

Whether the appeal filed by the Revenue has become infructuous due to settlement under the Vivad se Vishwas Act, 2020.

Which sections of the Income-tax Act were involved?

Direct Tax Vivad se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: ‘A’ NEW DELHI

Before: SHRI G.S. PANNU & SHRI SAKTIJIT DEY

For Respondent: Shri Om Prakash, Sr. DR
Hearing: 15.07.2022Pronounced: 15.07.2022

ORDER PER SAKTIJIT DEY, JUDICIAL MEMBER: This is an appeal by the Revenue against order dated 25.06.2019 of learned Commissioner of Income-Tax (Appeals)-29, New Delhi for the assessment year 2016-17.

2.

At the outset, learned Authorized Representative of the assessee submitted that the dispute arising in the appeal has been settled under the Direct Tax Vivid se Vishwas Act, 2020, as the designated authority has issued Form 5 on 07.07.2022. A letter dated 15.07.2022 to this effect attaching a copy of Form 5 is placed on record.

3.

Learned Departmental Representative fairly agreed with the aforesaid submission of learned counsel appearing for the assessee.

4.

Having considered rival submissions and perused material available on record, we find that accepting assessee’s declaration under Direct Tax Vivid se Vishwas Act, 2020, the designated authority has issued Form 5. Thus, for all practical purposes, the dispute arising in the present appeal stands resolved. Therefore, the appeal having become infructuous is dismissed.

5.

In the result, the appeal is dismissed.

Order pronounced in the open court on 15th July, 2022.

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