PARAMOUNT PRODUCTS PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 19(2), NEW DELHI

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ITA 4926/DEL/2018Status: DisposedITAT Delhi29 November 2021AY 2014-152 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal accepted the assessee's request for withdrawal of the appeal. The appeal was dismissed as withdrawn based on the settlement under the Vivad Se Vishwas Scheme.

What were the facts?

The assessee requested to withdraw their appeal for AY 2014-15. The reason for withdrawal was that the assessee had opted to settle the tax dispute under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

Whether the appeal can be withdrawn by the assessee due to opting for the Vivad Se Vishwas Scheme. The primary issue was the assessee's right to withdraw the appeal after opting for a settlement scheme.

Which sections of the Income-tax Act were involved?

Section 5(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘I-1’: NEW DELHI

Before: SHRI R.K.PANDA & SHRI C.N.PRASAD

For Appellant: Ms. Shivangi Kumar, Adv
Hearing: 29.11.2021Pronounced: 29.11.2021

ORDER PER R.K.PANDA, AM :

This appeal by the assessee for the assessment year 2014-15 is directed against the order of learned CIT(A)-7, New Delhi, dated 07.05.2018.

2.

The learned counsel for the assessee, vide its letter, received by hand’, has requested for withdrawal of the appeal filed by him and stated that the 2 ITA-4926/Del.2018 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. A certificate to this effect under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020 has also been filed.

3.

Learned Senior DR has no objection.

4.

In view of the above, we accept the request of the assessee for withdrawal of the appeal.

5.

In the result, the appeal of the assessee is dismissed as withdrawn.

Above decision was announced on conclusion of Virtual Hearing on 29th November, 2021 in presence of both the parties.

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