What did the Tribunal hold?

The Tribunal noted that the assessee had opted for settlement under the Vivad Se Vishwas Act and the designated authority had issued Form No. 5. Therefore, the dispute was settled.

The assessee filed an appeal against the CIT(A) order for AY 2010-11. The assessee sought withdrawal of the appeal as they had opted to settle the dispute under the Direct Tax Vivad Se Vishwas Act, 2020.

What were the issues?

Whether the appeal can be withdrawn as the assessee has settled the dispute under the Vivad Se Vishwas Act.

Vayoo Nandan Finance Company Pvt… vs ACIT | ITAT Delhi 2021

Income Tax Appellate Tribunal, DELHI BENCH: ‘SMC-2’ NEW DELHI

Before: SHRI SAKTIJIT DEY

Hearing: 20.12.2021Pronounced: 20.12.2021

Date of hearing 20.12.2021 Date of pronouncement 20.12.2021 ORDER This is an appeal by the assessee against order dated 29.03.2019 of learned Commissioner of Income Tax (Appeals)-16, New Delhi, for the assessment year 2010-11.

At the outset, learned counsel for the assessee, on instruction, sought withdrawal of the appeal as the assessee has opted for settling the dispute under the Direct Tax Vivad Se Vishwas Act, 2020.

Learned Departmental Representative did not express any objection to the aforesaid request of the assessee.

Having considered rival submissions, I find that the assessee has opted for settling the dispute under the Direct Tax Vivad Se Vishwas Act, 2020. Accepting assessee’s declaration, the designated authority has issued form No.

Thus, essentially, the dispute arising in the appeal has been settled. Therefore, accepting assessee’s request, I permit withdrawal of the appeal.

Accordingly, the appeal is dismissed as withdrawn.

Order pronounced in the open court on 20th December, 2021

VAYOO NANDAN FINANCE COMPANY PVT LTD,NEW DELHI vs. ACIT CIRCLE 26(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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