INDIAN OIL FOUNDATION,NEW DELHI vs. ITO, WARD-2(3), NEW DELHI

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ITA 1935/DEL/2018Status: DisposedITAT Delhi04 January 2022AY 2014-152 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The Income Tax Appellate Tribunal (ITAT) dismissed the appeal as withdrawn based on the assessee's request. The assessee was granted liberty to seek restoration if they failed to avail the VSV scheme for bonafide reasons.

What were the facts?

The assessee sought to withdraw its appeal before the ITAT. The reason for withdrawal was the assessee's decision to avail the benefits of the 'Vivad se Vishwas Scheme, 2020'.

What were the issues?

The primary issue was whether the assessee's appeal should be withdrawn due to opting for the Vivad se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “C” DELHI

Before: SHRI KUL BHARAT & SHRI PRADIP KUMAR KEDIA

For Respondent: Shri Mukesh Kumar, Sr.D.R

PER PRADIP KUMAR KEDIA - A.M.: The captioned appeal has been filed at the instance of the assessee against the order of the Commissioner of Income Tax (Appeals)-XL, Delhi (‘CIT(A)’ in short), dated 19.01.2018 arising in the assessment order dated 05.12.2016 passed by the Assessing Officer (AO) under Section 143(3) of the Income Tax Act, 1961 (the Act) concerning AY 2014-15.

2.

The captioned assessee has sought to withdraw the appeal listed above on the ground that assessee has opted to avail benefits of ‘Vivad se Vishwas Scheme, 2020’ (VSV). As per letter dated 29.12.2021 filed by assessee, it is submitted that assessee does not seek to pursue the said appeal owing to exercise of option for availing VSV Scheme and consequently requested that assessee’s application for withdrawal of appeal may please be granted.

3.

The ld. Departmental Representative for the Revenue stated that he has no objection to withdraw the appeal in the circumstances narrated on behalf of the assessee.

4.

In the light of written request made on behalf of the captioned party, the appeal is dismissed as withdrawn. However, in the event, the assessee fails to avail the benefit of VSV Scheme for any bonafide reasons, then the assessee concerned will be at liberty to seek restoration of original appeal for hearing before ITAT in accordance with law.

5.

In the result, the captioned appeal is dismissed as withdrawn.

Order pronounced in the open Court on 04 January, 2022.

[KUL BHARAT] [PRADIP KUMAR KEDIA] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 04 January, 2022 Prabhat

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