What did the Tribunal hold?

The Tribunal dismissed the appeal as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme. Liberty was granted to the assessee to seek restoration of the appeal if the dispute settlement under the scheme was not finalized.

The assessee filed an appeal against an assessment order for AY 2013-14. Subsequently, the assessee sought withdrawal of the appeal as they had opted to settle the tax dispute under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

Whether an appeal can be withdrawn and restored if the assessee opts for a settlement scheme like Vivad Se Vishwas.

M B Finmart Pvt. Ltd., New Delhi vs DCIT | ITAT Delhi 2021

Income Tax Appellate Tribunal, DELHI BENCH ‘E’ : NEW DELHI

Before: SHRI AMIT SHUKLA & SHRI ANADEE NATH MISSHRA

For Respondent: Ms. Rinku Singh, Sr.DR

Hearing: 20.12.2021

Aforesaid appeal has been filed by the assessee against the impugned order dated 02.06.2018 passed by the ld. CIT(A)-28, New Delhi for the quantum of assessment passed under section 143(3) of the Income-tax Act, 1961 (for short ‘the Act’) for the assessment year 2013-14.

The assessee filed an application dated 17.11.2021 seeking withdrawal of the appeal on the ground that the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration under the “Vivad Se Vishwas Scheme, 2020”.

Keeping in view the aforesaid facts, present appeal is hereby dismissed with liberty to get it restored by the assessee in case dispute is not settled as per scheme. The Revenue has no objection with regard to the aforesaid caveat. Consequently, the present appeal is dismissed.

Order pronounced in open court on this 20th day of December, 2021.

M B FINMART PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 16(1), NEW DELHI

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

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