THE STATE TRADING CORPORATION OF INDIA LTD.,NEW DELHI vs. ACIT, NEW DELHI
What did the Tribunal hold?
The Tribunal accepted the assessee's request for withdrawal of the appeals. The appeals were dismissed as withdrawn in light of the settlement under the Vivad Se Vishwas Scheme.
What were the facts?
The assessee, State Trading Corporation of India Ltd., filed appeals against the orders of the CIT(A) for assessment years 2010-11 to 2012-13. The assessee subsequently opted to settle the tax arrears under the Vivad Se Vishwas Scheme, 2020.
What were the issues?
Whether the assessee's appeals can be withdrawn and dismissed as settled under the Vivad Se Vishwas Scheme.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, DELHI “D” BENCH: NEW DELHI
Before: SHRI G.S. PANNU & SHRI K.NARSIMHA CHARY
PER G.S. PANNU, VP : These appeals by the assessee for the assessment years 2010-11 to 2012-13 are directed against the orders of learned CIT(A), New Delhi dated 04.07.2016, 21.03.2017 & 21.03.2017 respectively.
None appeared on behalf of the assessee at the time of virtual hearing before us. The learned counsel for the assessee, vide its letter dated 09.03.2021 received through email, has requested for withdrawal of the appeals filed by him and 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 effect under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020 has also been filed.
Learned Senior DR has no objection.
In view of the above, we accept the request of the assessee for withdrawal of the appeals.
In the result, appeals filed by the assessee are dismissed as withdrawn.
Above decision was announced on conclusion of Virtual Hearing on 17th March, 2021.
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