INDIAN COMMODITY EXCHANGELTD,MUMBAI vs. DCIT CIRCLE 12(1), NEW DELHI

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ITA 2102/DEL/2019Status: DisposedITAT Delhi10 June 2022AY 2012-133 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 noted that the assessee had opted to settle the dispute under the Direct Tax Vivad se Vishwas Act, 2020, and had received Form 5. Therefore, the appeal was permitted to be withdrawn.

What were the facts?

The assessee filed an appeal against the CIT(A) order for AY 2012-13. The assessee subsequently sought to withdraw the appeal.

What were the issues?

Whether the assessee's appeal should be dismissed as withdrawn due to settlement under the Vivad se Vishwas Act.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: ‘C’ NEW DELHI

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

For Respondent: Shri Om Prakash, Sr. DR
Hearing: 10.06.2022Pronounced: 10.06.2022

ORDER PER SAKTIJIT DEY, JUDICIAL MEMBER: This is an appeal by the assessee against order dated 23.01.2019 of learned Commissioner of Income-Tax (Appeals)-35, New Delhi for the assessment year 2012-13.

2.

When the appeal was called for hearing, none appeared for the assessee. However, learned authorized representative of the assessee has filed a letter dated 19.05.2022 seeking withdrawal of the appeal as assessee has opted for settling the dispute arising in the appeal under the Direct Tax Vivas se Vishwas Act, 2020 and has received Form 5 issued by the designated authority. A copy of Form 5 has been attached to the aforesaid letter.

3.

Learned Departmental Representative didn’t object to assessee’s request for withdrawal of the appeal.

4.

We have heard learned Departmental Representative and perused the material on record.

5.

As could be seen, assessee has opted for settling the dispute arising in the appeal under the Direct Tax Vivas se Vishwas Act, 2020. Accepting assessee’s declaration, the designated authority has issued Form 5 on 20.10.2021. Thus, for all practical purposes, the dispute arising in the appeal has been settled. Accordingly, we permit the assessee to withdraw the present appeal.

6.

In view of the aforesaid, the appeal is dismissed as withdrawn.

7.

In the result, the appeal is dismissed.

Order pronounced in the open court on 10TH June, 2022.

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