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Income Tax Appellate Tribunal, DELHI BENCH: ‘C’ NEW DELHI
Before: SHRI SAKTIJIT DEY & SHRI PRADIP KUMAR KEDIA
ORDER PER SAKTIJIT DEY, JM:
This is an appeal by the assessee against order dated 10.07.2018 of learned Principal Commissioner of Income Tax (PCIT)-5, Delhi, passed under section 263 of the Income-tax Act, 1961 (for short ‘the Act’) for the assessment year 2008-09.
Learned Authorized Representative of the assessee, on instruction, sought permission to withdraw the present appeal as the assessee has opted to settle the dispute arising in the appeal under the Direct Tax Vivad Se Vishwas Act, 2020. In fact, letter dated 28.05.2022 of the assessee, enclosing declaration filed under Vivad Se Vishwas Scheme and Form 5 issued by the designated authority have been furnished before the Bench.
Learned Departmental Representative has no objection to the withdrawal of the appeal by the assessee.
Having considered the submissions of the parties, we find that accepting assessee’s declaration under the Direct Tax Vivad Se Vishwas Act, 2020, the designated authority has issued Form 5 on 27th December, 2021. Thus, for all practical purposes, the dispute arising in the appeal stands settled. That being the factual position emerging on record, we permit the assessee to withdraw the present appeal. Accordingly, appeal is dismissed as withdrawn.
In the result, appeal is dismissed.
Order pronounced in the open court on 30th May, 2022