MAHESH CHAND GOYAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE-6, NEW DELHI

off through this Consolidated Order. Grounds taken in these appeals of Assessee are as under: .-1775/De/2018 and 1776/Del/2018. Sh. Mahesh Chand Goyal

ITA No:- 1775/Del/2018

2. On the facts and circumstances of the case and in law, the CIT(A) erred in confirming addition of Rs.3750000/- made by the assessing officer on account of alleged undisclosed interest income. 3. On the facts and circumstances of the case and in law, the alleged reasons given by the assessing officer and CIT(A) for making / confirming addition of Rs. 3750000/- are erroneous and, therefore, the addition of Rs.3750000/- is liable to be deleted. The appellant craves leave to add, alter, modify or delete one or more ground of appeal before or at the time of hearing of appeal. The aforesaid grounds of appeal are without prejudice of each other.

ITA No:- 1776/Del/2018

1. On the facts and circumstances of the case and in law, the CIT(A) erred in confirming addition of Rs.3750000/- made by the assessing officer on account of alleged undisclosed interest income.

(B) At the time of hearing, at the outset, the learned Counsel for the Assessee informed us that the assessee has opted to settle the aforementioned appeals under Vivad Se Vishwas Scheme, 2020 (“VSVS”, for short) and that the assessee has already filed the relevant forms. The Ld. Counsel for assessee also drew our attention to letter filed in Income Tax Appellate Tribunal (“ITAT”, for short) giving intimation for the same, and requesting to withdraw both these appeals. Page 2 of 5 .-1775/De/2018 and 1776/Del/2018. Sh. Mahesh Chand Goyal (B.1) At the time of hearing before us, the Ld. Counsel for assessee as well as the learned Senior Departmental Representative (“Ld. Sr. DR”, for short) submitted before us that these appeals may be treated as withdrawn and may be dismissed on account of the aforesaid VSVS. After due consideration, and in view of the foregoing; and as both sides have agreed to this; we are of the view that both these appeals have become infructuous, and we treat these appeals as withdrawn on account of the aforesaid VSVS. Accordingly, these appeals having become infructuous, are hereby dismissed as withdrawn, subject to settlement of the disputes in the appeals under the aforesaid VSVS.

(C) Before we part, we hereby clarify, by way of abundant caution, that if for some reason the disputes under these appeals before us are not settled under the aforesaid VSVS, then the assessee will be at liberty to approach ITAT for restoration of these appeals, in accordance with law.

(D) In the result, these appeals are dismissed.

This order has been already pronounced on22nd December, 2021 in Open Court, in the presence of Representatives of both sides; after conclusion of the hearing.