MANEESHA FINLEASE LTD. (AMALGAMATED COMPANY OF M/S. TODAY LEASEFIN PVT. LTD.),NEW DELHI vs. DCIT, CIRCLE- 16(1), NEW DELHI

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ITA 4551/DEL/2018Status: DisposedITAT Delhi02 March 2021AY 2007-083 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The tribunal dismissed the appeal as withdrawn because the assessee opted to settle the tax arrears under the "Vivad Se Vishwas Scheme, 2020". The dismissal was with liberty to restore the appeal if the dispute is not settled under the scheme.

What were the facts?

The assessee filed an appeal against an order for assessment year 2007-08. The assessee later sought to withdraw the appeal.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal due to opting for the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘SMC-1’ : NEW DELHI

Before: SHRI R.K. PANDA & SHRI KULDIP SINGH

For Appellant: Ms. Soumya Singh, Advocate
For Respondent: Shri R.K. Gupta, Senior DR
Hearing: 02.03.2021

PER KULDIP SINGH, JUDICIAL MEMBER : Appellant, M/s. Maneesha Finlease Ltd. (hereinafter referred to as ‘the assessee’), by filing the present appeal, sought to set aside the impugned order dated 02.04.2018 passed by the Commissioner of Income-tax (Appeals)-42, New Delhi qua the assessment year 2007-08.

2.

Ld. Counsel for the assessee filed an application seeking withdrawal of the appeal on the ground that the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration under the “Vivad Se Vishwas Scheme, 2020” and has filed necessary Forms 1 & 2 with the Tax Department, which was accepted and processed vide Form 3 issued by the Tax Department.

3.

Keeping in view the aforesaid facts, present appeal is hereby dismissed with liberty to get it restored by the assessee in case dispute is not settled as per scheme. The Revenue has no objection with regard to the aforesaid caveat. Consequently, the present appeal is dismissed. Order pronounced in open court on this 2nd day of March, 2021 after the conclusion of the virtual hearing.

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