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

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.

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.

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.

In the result, appeal of the assessee is dismissed.