ACIT, CIRCLE- 8(2), NEW DELHI vs. ETHICAL INFRASTRUCTURES PVT. LTD., NEW DELHI

This appeal by the Revenue and cross objection by the assessee are preferred against the order of the Commissioner of Income Tax [Appeals] – 3, New Delhi dated 03.02.2018 pertaining to assessment year 2009-10.

The solitary grievance of the Revenue is that the ld. CIT(A) erred in deleting the addition of Rs. 3 crores made by the Assessing Officer on account of unexplained receipts income u/s 68 of the Income-tax Act, 1961 [hereinafter referred to as 'The Act'].

The cross objection by the assessee relates to the not quashing of the assessment order passed by the Assessing Officer u/s 143(3) r.w.s 147 of the Act without assuming jurisdiction.

At the very outset, the ld. counsel for the assessee drew our attention to Form No. 5 which is the order for full and final settlement of tax arrears u/s 5(2) r.w.s 6 of the Direct Tax Vivad se Vishwas Scheme, 2020.

We find that the quarrel raised in has been settled. Therefore, the appeal of the Revenue has to be dismissed and so also the cross objection raised by the assessee.

In the result the appeal of the Revenue in as well as the cross objection in CO No. 04/DEL/2021 are dismissed.