What did the Tribunal hold?

The assessee sought to withdraw the appeal as they have opted to settle the tax arrears under the Vivad Se Vishwas Scheme, 2020. The Tribunal permitted the withdrawal.

The assessee filed an appeal against the order of the CIT(A) for the assessment year 2006-07. The assessee has since merged with another company.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal due to settlement under the Vivad Se Vishwas Scheme.

Space Power Controls Pvt. Ltd… vs ACIT | ITAT Delhi 2021

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

Before: SHRI O.P. KANT & MS. SUCHITRA KAMBLE

Hearing: 08/11/2021Pronounced: 08/11/2021

Date of hearing 08/11/2021 Date of pronouncement 08/11/2021 ORDER PER O.P. KANT, AM:

This appeal by the appellant- assessee, i.e., M/s. Space Power Controls Pvt. Ltd., (Now merged with M/s. NKA Financial Services Private Ltd.) is directed against the order of learned Commissioner of Income Tax (Appeals)-XII, New Delhi, dated 11/03/2010 passed for assessment year 2006-07. 2. We have heard learned Representatives of both the parties.

At outset, the leaned counsel for the assessee submitted that the assessee, i.e., M/s. Space Power Controls Pvt. Ltd. now merged with M/s. NKA Financial Services Private Ltd. has opted to settle the dispute relating to the tax arrears for the assessment year under consideration, under the “Vivad Se Vishwas Scheme, 2020” and the Revised Form No. 3 is awaited. The learned counsel, therefore, seeks permission to withdraw the appeal.

In view of the aforesaid, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open court.

SPACE POWER CONTROLS PVT. LTD.,NEW DELHI vs. ACIT, CIRCLE- 24(1), NEW DELHI

What did the Tribunal hold?

What were the facts?

What were the issues?

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