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(A) This appeal by Assessee is filed against the order of Learned Commissioner of Income Tax (Appeals), Haldwani, [“Ld. CIT(A)”, for short], dated 16.10.2017 for Assessment Year 2014-15. Grounds taken in this appeal of Assessee are as under:
“I. On the facts and circumstances of the case and in law the learned Commissioner of Income Tax (Appeals), erred in confirming the addition of Interest on Agriculture Credit Stabilization Fund Rs. 24,56,484,00, PACS Deposit Fund Rs. 7,00,000,00 and not treating dividend income of Rs. 28,00,000.00 as exempt income. II. The Appellant respectfully, submits as under:- 1. The Learned Commissioner of Income Tax Appeals (CIT-A) has without going into the facts has sustained addition aggregating to Rs.
ITA No.-1094/Del/2018 Uttarakhand Rajya Sahakari Bank Ltd. 31,56,484.00. Being Interest on Agriculture Credit Stabilization Fund Rs. 24,56,484.00, PACS Deposit fund Rs. 7,00,000.00 2. The Ld. CIT-A has not treated dividend income as exempt income which is resulting into double taxation.
That the order is bad in law, not in agreement with facts and is against the principles of natural justice. III. The Appellant craves leave to add, alter, amend, and/ or to modify any Ground of Appeal, if necessary.”
(B) At the time of hearing, we took notice of letter filed by Sri Prashant Kacker, Authorized Representative (from M/s Uttarakhand State Cooperative Bank Ltd.). In this letter it has been intimated that the assessee has opted the Vivad Se Vishwas Scheme, 2020 (“VSVS”, for short). In view of this, the learned Senior Departmental Representative (“Ld. Sr. DR”, for short) submitted before us that this appeal may be treated as withdrawn and may be dismissed on account of the aforesaid VSVS. After due consideration, in view of the foregoing; we treat this appeal as withdrawn on account of the aforesaid VSVS. Accordingly, this appeal is dismissed.
(B.1) Before we part, we hereby clarify, by way of abundant caution, that if for some reason it is found by Assessee that the disputes under this appeal before us are not fully settled under the aforesaid VSVS, then Assessee will be at liberty to approach ITAT for restoration of this appeal, in accordance with law.
(C) In the result, this appeal is dismissed.
ITA No.-1094/Del/2018 Uttarakhand Rajya Sahakari Bank Ltd. This order was already pronounced on 9th August, 2021 in Open Court, in the absence of any representative from assessee’s side, but in the presence of Ld. Sr. DR; after conclusion of the hearing.