TAISEI ONCHO INDIA (P) LTD.,NEW DELHI vs. ACIT, NEW DELHI

This appeal is filed by the assessee against the order dated 25/11/2016 passed by 143(3) read with Section 144C of the Income Tax Act, 1961 for Assessment Year 2012-13.

Before us, the Ld. AR on behalf of the assessee at the time of hearing submitted that the assessee is interested to resolve the pending issue through Direct Tax “ Vivad se Vishwas Scheme” (VSV) Act, 2020, and filed Declaration Form No. 1 & 2.

In view of the aforesaid facts and after considering the submissions of the assessee, we dismiss the appeal of assessee as withdrawn subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of the aforesaid Act, the assessee shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider directions the appeal of the assessee is dismissed as withdrawn.

In the result, appeal of the assessee is dismissed. Order pronounced in the Open Court in presence of both the parties on this 25TH Day of February, 2021