ACIT, NEW DELHI vs. M/S. THE STATE TRADING CORPORATION OF INDIA LTD., NEW DELHI

ITA 3659/DEL/2017Status: DisposedITAT Delhi01 September 2021AY 2011-123 pages

AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for the Vivad se Vishwas scheme for settlement of pending tax disputes. Consequently, the appeals filed by the Revenue were dismissed as withdrawn.

What were the facts?

The assessee, M/s. The State Trading Corporation of India Ltd., opted for the Vivad se Vishwas (VsV) scheme to settle pending tax disputes. The Department issued Form-5 under the VsV scheme for the assessment years 2011-12 and 2012-13.

What were the issues?

The primary issue was whether the appeals filed by the Revenue should be dismissed as withdrawn due to the assessee's participation in the Vivad se Vishwas scheme.

AI-generated summary — verify with the full judgment below

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

Before: SH. N. K. BILLAIYA & SH. KULDIP SINGH

For Respondent: Ms. Deepti S. John

Hearing: 01/09/2021Pronounced: 01/09/2021

These appeals filed by the Revenue are preferred against the order of the CIT(A)-9, New Delhi dated 21.03.2017 for A.Y. 2011-12 and 2012-13.

Vide letter dated 19.08.2021 the assessee interalia, brought to the notice of the Bench as under :-

“STC had opted for VsV scheme for settlement of all pending tax disputes with IT Department pertaining to A.Y 2010-11 to 2014-15 (5 assessment years). The Department has issued form-5 under the VsV scheme for the A.Ys 2011-12 and 2012-13.

In the light of the above both the appeals filed by the Revenue are dismissed as withdrawn.

Decision announced in the open court in the presence of both the representatives on 01.09.2021.

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