What did the Tribunal hold?

The Tribunal noted that Form No. 5 was issued to the assessee under The Direct Tax Vivad Se Vishwas Act, 2020. Consequently, the appeal was allowed to be withdrawn.

The Revenue filed an appeal for assessment year 2010-11 against an order of the CIT(A). The assessee opted to settle the dispute under The Direct Tax Vivad Se Vishwas Scheme, 2020 and filed the necessary forms.

What were the issues?

The primary issue was whether the appeal should be withdrawn due to the assessee's settlement under the Vivad Se Vishwas Scheme.

ACIT vs Srp Trade and Equity Pvt. Ltd… | ITAT Delhi 2022

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

Before: SHRI NARENDRA KUMAR BILLAIYA & SHRI YOGESH KUMAR US

For Appellant: Shri Saubhagya Aggarwal

For Respondent: Shri R. S. Yadav

Hearing: 21.06.2022Pronounced: 21.06.2022

This appeal is filed by the Revenue for assessment year 2010-11 against the order of the ld. Commissioner of Income Tax (Appeals)-8, New Delhi, dated 25.03.2019.

At the time of hearing the assessee submitted that he has opted to settle the dispute involved in the impugned appeal under The Direct Tax Vivad Se Vishwas Scheme, 2020 and has already filed Form Nos. 1 and 2 under the Scheme. Therefore, the appeal may be allowed to be withdrawn.

The ld. DR also agreed with the above contentions.

On careful consideration of the fact it is found that Form No. 5 has been issued to the assessee by the Department on 29th October, 2021 under The Direct Tax Vivad Se Vishwas Act, 2020. Therefore, the appeal is allowed as withdrawn and hence dismissed.

In the result, appeal is dismissed.

Order pronounced in the open court on : 21/06/2022.

ACIT(OSD), NEW DELHI vs. SRP TRADE AND EQUITY PVT. LTD, NEW DELHI

What did the Tribunal hold?

What were the facts?

What were the issues?

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