What did the Tribunal hold?

The Tribunal accepted the assessee's request for dismissal of the Revenue's appeal. The appeal was dismissed as withdrawn and having become infructuous.

The Revenue filed an appeal against an order of the CIT(Appeals) for AY 2012-13. The assessee, Balaji Finstock Pvt. Ltd., applied for withdrawal of the appeal under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

Whether the Revenue's appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.

ITO vs M/S. Balaji Finstock Pvt. Ltd… | ITAT Delhi 2021

Income Tax Appellate Tribunal, DELHI BENCHES “A”: DELHI

Before: SMT. DIVA SINGH & SHRI O.P. KANT

Hearing: 15.09.2021Pronounced: 16.09.2021

wherein the correctness of the order dated 22.06.2016 passed by the Ld. CIT(Appeals)-2, New Delhi pertaining to 2012-13 assessment year is assailed.

None appeared on behalf of assessee at the time of virtual hearing. The assessee has filed an application dated 08.09.2021,

ITA.No.5281/Del./2016 ITO Vs. Balaji Finstock Pvt. Ltd. before the Registry which has been placed before us. The assessee prays for a withdrawal of the appeal filed by the Revenue stating as under:

“Respected Sir, This is with reference to your notice dated 06.08.2021 fixing the date of hearing on 15.09.2021 of the above referred appeal which is filed by the ITO, Ward 4(2), New Delhi against the order of CIT(A)-II, Delhi for AY 2012-13 who allowed the appeal of the assessee Company filed against the order of Ld. AO passed u/s 143(3) of the I.T. Act, 1961. In this appeal filed by the Income Tax Department, the appellant Company opted to settle the dispute for the assessment under consideration under the Vivad Se Vishwas Scheme, 2020. As per the Section 4(2) of the Direct Tax Vivad Se Vishwas Act 2020, upon filing the declaration, any appeal pending before the Income Tax Appellate Tribunal or Commissioner (Appeals), in respect of the disputed income or disputed interest or disputed penalty or disputed fee and tax arrears shall be deemed to have been withdrawn from the date on which certificate under sub- section (1) of section 5 is issued by the designated authority. The declaration filed by the assessee Company for above referred appeal has been accepted by the Department by issuing certificate under sub-section (1) of section 5 in Form No. 3, the copy of which is enclosed herewith for your kind purpose. It is, therefore, prayed that the above referred appeal be treated as withdrawn and pass the necessary order accordingly.

Thanking you,

Yours faithfully, For Balaji Finstock Pvt. Ltd. Sd/- (Surendra Kumar Singh) Director Appellant Dated: 08/09/2021”

ITA.No.5281/Del./2016 ITO Vs. Balaji Finstock Pvt. Ltd.

Learned Senior DR considering the same had no objection to the withdrawal of the appeal.

Considering the submissions in the light of the facts on record the appeal of the Revenue is dismissed as withdrawn.

However, before parting by way of abundant caution, we deem it appropriate to observe that in case it is found by the Assessing Officer/Department that the dispute under the appeal is not fully settled under the Vivad se Vishwas Scheme then the Revenue will be at liberty to approach the ITAT with a prayer for restoration of this appeal in accordance with law.

In view of the above, we accept the request of the assessee for dismissal of the Revenue’s appeal.

In the result, the appeal of the Revenue is dismissed having become infructuous.

ITO, NEW DELHI vs. M/S. BALAJI FINSTOCK PVT. LTD., NEW DELHI

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