INDIAN OIL FOUNDATION,NEW DELHI vs. ITO, WARD-2(3), NEW DELHI

ORDER PER O.P. KANT, AM:

This appeal by the assessee is directed against the order of learned Commissioner of Income Tax (Appeals)-40, Delhi, dated 31.10.2017, passed for assessment year 2014-15. 2. We have heard Income Tax Officer appearing for the Department through Video Conferencing. 3. None present of the Assessee. The assessee, vide its application dated 8th March, 2021, requested for withdrawal of the appeal as it has opted to settle the dispute relating to the tax arrears for the assessment year under consideration, under the “Vivad Se Vishwas Scheme, 2020”. It has been submitted that the application filed by the assessee has been accepted and the Commissioner of Income Tax (Exemption) has issued order for full and final settlement of tax arrears under Section 5(2) of Direct Taxes Vivad Se Vishwas Act, 2020 in Form 5, which is placed on record. The assessee, therefore, seeks permission to withdraw the appeal.