DCIT, CIRCLE-7(1), NEW DELHI vs. DELHI TRANSCO LTD., NEW DELHI

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ITA 597/DEL/2020Status: DisposedITAT Delhi17 March 2021AY 2014-152 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal accepted the assessee's request for withdrawal of the appeal. The Senior DR had no objection to the withdrawal.

What were the facts?

The Revenue filed an appeal for the assessment year 2014-15. The assessee requested the withdrawal of the appeal, stating they opted to settle the dispute under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

The primary issue was the assessee's eligibility and opting for the Vivad Se Vishwas Scheme to settle tax arrears, leading to the withdrawal of the Revenue's appeal.

Which sections of the Income-tax Act were involved?

Section 5(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH D: NEW DELHI

Before: SHRI G.S. PANNU & SHRI K. NARASIMHA CHARY

For Respondent: Ms. Soumya Jain, CA
Hearing: 17.03.2021Pronounced: 17.03.2021

ORDER PER G.S. PANNU, VP :

This appeal by the Revenue for the assessment year 2014-15 is directed against the order of learned CIT(A)-3, New Delhi dated 15.11.2019.

2.

The learned counsel for the assessee, vide its letter dated 03.03.2021 has requested for withdrawal of the appeal filed by the Revenue and stated that the assessee has opted to settle the dispute relating to the tax arrears for 2 ITA-597/Del/2020 the assessment year 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.

3.

Learned Senior DR has no objection.

4.

In view of the above, we accept the request of the assessee.

5.

In the result, the appeal of the Revenue is dismissed.

Above decision was pronounced in the open court in the presence of both the parties on conclusion of Virtual Hearing on 17th March, 2021.

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