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Income Tax Appellate Tribunal, DELHI BENCH: ‘B’ NEW DELHI
Before: SHRI G.S. PANNU & SHRI SAKTIJIT DEY
ORDER PER SAKTIJIT DEY, JUDICIAL MEMBER: This is an appeal by the assessee against order dated 01.04.2019 of learned Commissioner of Income-Tax (Appeals)-10, New Delhi, confirming penalty imposed of Rs.7,21,602 under Section 271(1)(c) of the Income-Tax Act, 1961.
When the appeal was called out for hearing, none was present on behalf of the assessee. However, learned counsel for the assessee has filed a letter in the Registry, seeking withdrawal of the appeal as the dispute has been settled under the Vivad Se Vishwas Scheme, 2020.
Learned Departmental Representative, on the other hand, did not express any objection to the withdrawal of appeal by the assessee.
On perusal of material on record, it is noticed that assessee has opted for settling the dispute arising in the appeal under the Vivad Se Vishwas Scheme, 2020. Accepting assessee’s declaration, the designated authority has issued Form-5 on 01.03.2021. Thus, for all practical purposes, the dispute arising in the appeal has been settled.
Considering the above, assessee’s request for withdrawal of appeal is allowed. Accordingly, the appeal is dismissed as withdrawn.
In the result, the appeal is dismissed.