TRUE BLUE FINANCE LEASE LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 29, NEW DELHI

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ITA 4687/DEL/2018Status: DisposedITAT Delhi15 November 2021AY 2007-082 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the assessee had opted to settle the dispute under the Vivad se Vishwas Act, 2020. Consequently, the appeal was treated as withdrawn.

What were the facts?

The assessee filed an appeal against the CIT(A) order for AY 2007-08. During the hearing, the assessee stated they opted to settle the dispute under the Vivad se Vishwas Act, 2020.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad se Vishwas Act.

Which sections of the Income-tax Act were involved?

Direct Taxes Vivaad se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “G”: NEW DELHI

Before: SHRI AMIT SHUKLA & SHRI PRASHANT MAHARISHI

For Appellant: Shri Umesh Takyar, Sr. DR
Hearing: 15/11/2021Pronounced: 15/11/2021

Assessee by : Shri Umesh Takyar, Sr. DR Revenue by: None Date of Hearing 15/11/2021 Date of pronouncement 15/11/2021 O R D E R PER PRASHANT MAHARISHI, A. M.

1.

This appeal is filed by the assessee against the order of the ld CIT(A)-30, New Delhi dated 27/04/2018 for the Assessment Year 2007-08.

2.

At the time of hearing the assessee submitted that it has opted to settle the dispute under Direct Taxes Vivaad se Vishwas Act, 2020 and submitted copy of Form No. 3 issued on 23/08/2021. The assessee submitted that there are certain discrepancies in Form No. 3 issued and the rectification of the same is in process. Therefore, it was stated that the appeal of the assessee may be treated as withdrawn.

3.

The ld DR did not have any objection to the same.

4.

We have carefully perused the letter wherein the assessee submitted by the assessee along with Form No. 3 issued on 23/03/2021 wherein, for Assessment Year 2007-08 the assessee has opted to settle the dispute under Direct Taxes Vivaad se Vishwas Act, 2020. In view of this the appeal of the assessee is dismissed as withdrawn.

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