LIPI FINSTOCK LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 6, NEW DELHI

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ITA 5097/DEL/2017Status: DisposedITAT Delhi06 September 2021AY 2011-122 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 for the Vivad se Vishwas scheme. Consequently, the appeals filed by the assessee were rendered infructuous.

What were the facts?

The assessee filed appeals against the orders of the CIT(A) for multiple assessment years. The assessee subsequently filed an application under the Direct Tax Vivad se Vishwas Act, 2020, and submitted the required forms.

What were the issues?

Whether the appeals should be dismissed as infructuous due to the assessee opting for the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Direct Tax Vivad se Vishwas Act 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI

Before: Sh. K. N. CharyDr. B. R. R. Kumar

For Respondent: Ms. Paramita M. Biswas, CIT DR
Hearing: 06.09.2021Pronounced: 06.09.2021

Heard together (5 matters)

ITA No. 5093/Del/2017
ITA No. 5094/Del/2017
ITA No. 5095/Del/2017
ITA No. 5096/Del/2017
ITA No. 5097/Del/2017

Read from the judgment's own cause title. This page is filed under one of them.

The present appeals have been filed by the assessee against the orders of the ld. CIT(A)-24, New Delhi dated 29.06.2017.

2.

At the outset, it was brought to the notice of bench by the ld. AR that the assessee has filed application under the “Direct Tax Vivad se Vishwas Act 2020” and has already submitted Form 1 & 2 and Form 3 have been issued by the designated authority. to 5097/Del/2017 2 Lipi Finstock Ltd.

3.

Keeping in view the exercise of option by the assessee to opt for the scheme, the appeal of the assessee is being dismissed as infructuous.

4.

In the result, all the appeals of the assessee are dismissed. Order Pronounced in the Open Court on 06/09/2021.

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