POWER FINANCE CORPORATION LTD.,NEW DELHI vs. ACIT, CIRCLE- 1, LTU, NEW DELHI

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ITA 1903/DEL/2019Status: DisposedITAT Delhi25 March 2021AY 2013-143 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 accepted the assessee's request for dismissal of the appeals. The Senior DR had no objection to this course of action.

What were the facts?

The assessee requested the dismissal of appeals filed by both the revenue and itself. This was due to the assessee opting to settle the tax disputes under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

The primary issue was whether the appeals should be dismissed as the assessee had opted for settlement under the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

The Direct Tax Vivad Se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

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

Before: SHRI G.S. PANNU & SHRI SUDHANSHU SRIVASTAVA

Hearing: 25.03.2021Pronounced: 25.03.2021

Heard together (7 matters)

ITA No.5596/Del/2018
ITA No.2571/Del/2019
ITA No.2572/Del/2019
ITA No.2573/Del/2019
ITA No.1902/Del/2019
ITA No.1903/Del/2019
ITA No.1904/Del/2019

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

ORDER PER G.S. PANNU, VP :

These appeals by the revenue for the Assessment Years 2011-12, 2012- 13, 2013-14 & 2015-16 respectively against the order of Ld. CIT(A)-22, New Delhi, dated 28.06.2018, 31.12.2018 and 22.12.2018 and the appeals by the assessee for the assessment years 2012-13, 2013-14 & 2015-16 respectively are directed against the order of learned CIT(A)-22, New Delhi, dated 31.12.2018 and 22.12.2018.

2.

None appeared on behalf of the assessee at the time of virtual hearing.

The assessee, vide its letter have requested for dismissal of the appeals filed by Revenue and assessee stated that the assessee has opted to settle the dispute relating to the tax arrears for the assessment years under consideration under the Vivad Se Vishwas Scheme, 2020. A certificate to this 3 ITA-5596 & Ors. effect under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020 has also been filed.

3.

Learned Senior DR has no objection.

4.

In view of the above, we accept the request of the assessee for dismissal of the captioned appeals.

5.

In the result, the appeals of the Revenue and assessee are dismissed.

Above decision was announced on conclusion of Virtual Hearing on 25th March, 2021.

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