What did the Tribunal hold?

The Tribunal accepted the assessee's request for withdrawal of the appeal. The appeal was dismissed as withdrawn in light of the settlement under the Vivad Se Vishwas Scheme.

The assessee filed an appeal for the assessment year 2014-15. The assessee later requested to withdraw the appeal as they had opted to settle the tax arrears under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

Whether an appeal can be withdrawn by the assessee due to opting for settlement under the Vivad Se Vishwas Scheme.

Power Finance Corporation Ltd… vs DCIT | ITAT Delhi 2021

Income Tax Appellate Tribunal, DELHI BENCH ‘B’: NEW DELHI

For Respondent: DR 30.04.2021

Pronounced: 30.04.2021

ORDER PER G.S.PANNU, VP:

This appeal by the assessee for the assessment year 2014-15 is directed against the order of learned CIT(A)-16, New Delhi dated 29.12.2017.

Nobody appeared on behalf of the assessee at the time of virtual hearing before us. The learned counsel for the assessee, vide email dated 12th April, 2021 has requested for withdrawal of the appeal filed by the assessee and M/s Power Finance Corporation Ltd. Vs. DCIT stated that the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration under the Vivad Se Vishwas Scheme, 2020. A certificate to this effect under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020 has also been filed.

Learned Senior DR has no objection.

In view of the above, we accept the request of the assessee for withdrawal of the appeal.

In the result, the appeal of the assessee is dismissed as withdrawn.

Above decision was announced on conclusion of Virtual Hearing on 30th April, 2021.

POWER FINANCE CORPORATION LTD.,NEW DELHI vs. DCIT (LTU), NEW DELHI

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

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