PERFECT HOMEFIN P.LTD,NEW DELHI vs. ACIT CIRCLE-19(2), NEW DELHI

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ITA 456/DEL/2020Status: DisposedITAT Delhi28 June 2022AY 2011-123 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 permitted the assessee to withdraw the appeal as the dispute had been resolved under the Vivad Se Vishwas Act. The designated authority had issued Form 5, confirming the settlement.

What were the facts?

The assessee filed an appeal against an order of the CIT(A) for AY 2011-12. The dispute was settled under the Direct Tax Vivad Se Vishwas Act, 2020.

What were the issues?

Whether the appeal can be withdrawn by the assessee due to settlement under the Vivad Se Vishwas Act.

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: ‘F’ NEW DELHI

Before: SHRI SAKTIJIT DEY & DR. BRR KUMAR

For Appellant: Shri Omprakash Tripathi, AR, Ms. Indu Sen, SR. DR
Hearing: 28.06.2022Pronounced: 28.06.2022

ORDER PER SAKTIJIT DEY, JUDICIAL MEMBER: This is an appeal by the assessee against order dated 27.11.2019 of learned Commissioner of Income-Tax(Appeals)-7, New Delhi for the assessment year 2011-12.

2.

At the outset, learned authorized representative of the assessee, on instructions, sought withdrawal of the appeal as the dispute arising in the appeal has been settled under the Direct Tax Vivad Se Vishwas Act, 2020. A letter dated 24.06.2022 to this effect enclosing a copy of Form 5 dated 16th November 2021, issued by the designated authority has been furnished before the Bench.

3.

Learned Departmental Representative did not oppose assessee’s request for withdrawal of the appeal.

4.

Having considered rival submissions and perused material on record, we find, accepting assessee’s declaration under the Direct Tax Vivad Se Vishwas Act, 2020, the designated authority has issued Form 5, as noted above. Thus, for all practical purposes, the dispute arising in the appeal has been resolved.

5.

In view of the aforesaid, we permit the assessee to withdraw the present appeal. Accordingly, appeal is dismissed as withdrawn.

6.

In the result, the appeal is dismissed.

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