OFI (INDIA) P.LTD,NEW DELHI vs. ACIT, CIRCLE-19(1), NEW DELHI

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ITA 513/DEL/2019Status: DisposedITAT Delhi22 April 2022AY 2015-163 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 Direct Tax Vivad-se-Vishwas Act, 2020. The designated authority had issued Form-5, indicating the settlement of the dispute.

What were the facts?

The assessee filed an appeal against an order of the CIT(A) for assessment year 2015-16. The assessee subsequently sought to withdraw the appeal.

What were the issues?

Whether the appeal can be withdrawn due to settlement under the Vivad-se-Vishwas Act. The primary issue was the resolution of the dispute through the scheme.

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: ‘E’ NEW DELHI

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

For Respondent: Shri Umesh Takyar, Sr. DR
Hearing: 22.04.2022Pronounced: 22.04.2022

ORDER PER SAKTIJIT DEY, JUDICIAL MEMBER: This is an appeal by the assessee against order dated 17.12.2018 of learned Commissioner of Income-Tax (Appeals)-7, New Delhi, pertaining to assessment year 2015-16.

2.

Learned authorized representative of the assessee has furnished letter dated 11.04.2022, seeking permission to withdraw the appeal as the dispute has been resolved under the Direct Tax Vivad-se-Vishwas Act, 2020.

3.

Learned Departmental Representative has no objection to the aforesaid request of the assessee.

4.

On perusal of material on record, it is noticed that assessee has filed a declaration under the Vivad Se Vishwas Scheme, 2020 for settling the dispute arising in the appeal. Accepting assessee’s declaration, the designated authority has issued Form-5 on 15.09.2021. A copy of Form-5 is placed on record. Thus, with the issuance of Form-5, for all practical purposes, the dispute arising in the appeal stands 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 Accordingly, appeal is dismissed as withdrawn.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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