What did the Tribunal hold?

The Tribunal was informed that the assessee had settled the dispute under the Vivad se Vishwas Act and had been issued Form No. 3. Therefore, the Tribunal allowed the withdrawal of the appeals.

The assessee and the Revenue filed cross-appeals before the ITAT for assessment years 2009-10 and 2010-11. The assessee subsequently opted to settle the tax dispute under the Vivad se Vishwas Act, 2020.

What were the issues?

The primary issue was the settlement of tax arrears under the Vivad se Vishwas Act and the subsequent withdrawal of pending appeals.

ACIT vs Swatch Group (India) Pvt. Ltd… | ITAT Delhi 2021

Income Tax Appellate Tribunal, DELHI BENCH “I-2” NEW DELHI

Before: SHRI AMIT SHUKLA & SHRI PRASHANT MAHARISHI

For Appellant: Shri S. Chakar Bartu, Adv

PER BENCH: The aforesaid cross appeals have been filed by the assessee as well as by the Revenue against the impugned common order dated 30.06.2017 passed by Commissioner of Income Tax (Appeals)-XXXVIII, New Delhi for the Assessment Years 2009-10 and 2010-11.

We have heard Ld. Representatives of both the parties through Video Conferencing.

The ld. counsel for the assessee, vide its letter dated 8th March, 2021 has intimated the Tribunal 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 Act, 2020 (in short ‘the Act’) and requested for withdrawal of the aforesaid appeals and Form No.3 has also been issued in favour of the assessee. He, therefore, seeks permission to withdraw the appeal. 4. In view of the above, the appeals of the assessee as well as Revenue are dismissed as withdrawn. Order pronounced in the Open Court on 11th March, 2021

ACIT, CIRCLE- 22(2), NEW DELHI vs. SWATCH GROUP (INDIA) PVT. LTD., NEW DELHI

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