WEB OVERSEAS LTD.,NEW DELHI vs. ITO WARD - 27(2), NEW DELHI

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ITA 7538/DEL/2019Status: DisposedITAT Delhi24 March 2021AY 2011-123 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 dismissed the assessee's appeal, subject to the condition that if the dispute is not resolved under the VSV Act, the assessee can seek reinstitution of the appeal.

What were the facts?

The assessee filed an appeal for assessment year 2011-12. The assessee later expressed interest in resolving the pending issue through the Direct Tax "Vivad se Vishwas Scheme" (VSV) Act, 2020, and filed the necessary declarations.

What were the issues?

The primary issue was the pendency of the appeal and the assessee's subsequent decision to opt for the Vivad se Vishwas Scheme for resolution.

Which sections of the Income-tax Act were involved?

Not Applicable

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: ‘SMC-2’ NEW DELHI

Before: SHRI N. K. BILLAIYA & MS SUCHITRA KAMBLE

Hearing: 24.03.2021Pronounced: 24.03.2021

ORDER

PER SUCHITRA KAMBLE, JM

1.

This appeal is filed by the assessee against order dated 03/10/2018 passed by CIT(A) 27 (2), New Delhi for assessment year 2011-12.

2.

Before us, the Ld. ITO appeared and submitted that the assessee has moved an application dated 24.03.2011 thereby stating that the assessee is interested to resolve the pending issue through Direct Tax “ Vivad se Vishwas Scheme” (VSV) Act, 2020, and has filed Declaration Form No. 1 & 2 and received Form No. 3 dated 11.02.2021.

3.

In view of the aforesaid facts and after considering the submissions of the assessee, we dismiss the appeal of assessee subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of the aforesaid Act, the assessee shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider the same. The appeal of the assessee is dismissed.

4.

In the result, appeal of the assessee is dismissed.

Order pronounced in the open court in presence of Ld. DR on this 24th Day of March, 2021.

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