SMT. SNIGDHA GUPTA,NEW DELHI vs. ITO, NEW DELHI

These are the two appeals filed by same assessee for same assessment year i.e. assessment year 2012-13. I.T. Appeal No. 4874/Del/2016 is filed against order passed by Pr. CIT, under Section 263 of the Income Tax Act, 1961 (the Act) for assessment year 2012-13 wherein the ld. Pr. CIT has denied deduction under Section 10B of the Act by order dated 5.07.2016. Second appeal in Pr. CIT also levied penalty under Section 271(1)(c) of the Act dated 23.12.2016 on denial of deduction under Section 10B of the Act.

At the time of hearing the assessee submitted that she has opted to settle the dispute involved in the impugned appeal under The Direct Tax Vivad Se Vishwas Scheme, 2020 and has already filed Form Nos. 1 and 2 under the Scheme. Therefore, the appeals of the assessee may be allowed to be withdrawn. 3. The ld. DR also agreed with the above contentions. Page | 1

On careful consideration of the fact it is found that in these appeals Form No. 3 has been issued to the assessee by the Department on 31st December, 2020 under The Direct Tax Vivad Se Vishwas Act, 2020. Therefore, the appeals of the assessee are allowed to be withdrawn and hence dismissed.

In the result, both the appeals of the assessee are dismissed.