MRK SHARES AND STOCKS PVT.LTD.,NEW DELHI vs. ACIT WARD -17(2), NEW DELHI

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ITA 1551/DEL/2019Status: DisposedITAT Delhi25 February 2021AY 2015-162 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal acknowledged the assessee's request and ordered the appeal to be consigned to records and treated as dismissed. This dismissal is conditional on the dispute being resolved under the Vivad Se Vishwas Act.

What were the facts?

The assessee requested withdrawal of their appeal for AY 2015-16. This was because they had opted to settle the tax dispute under the 'Vivad Se Vishwas Scheme, 2020'.

What were the issues?

Whether an appeal can be withdrawn by the assessee due to opting for a settlement scheme like Vivad Se Vishwas.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI “C” BENCH: NEW DELHI

Before: SHRI R.K.PANDA & SHRI K.N.CHARY

For Appellant: Ms. Dipti Gupta, CA
Hearing: 25.02.2021Pronounced: 25.02.2021

This appeal by the assessee for the assessment year 2015-16 is directed against the order of learned CIT(A)-6, Delhi dated 09.01.2019.

2.

The assessee, vide its letter dated 18.02.2021, received through email, has requested for withdrawal of the appeal filed by her and stated 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”.

3.

Considering the aforesaid situation, the captioned appeal is consigned to records and treated as dismissed.

4.

However, the aforesaid is 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 aforestated Act, the appellant (i.e., the assessee) shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriately as per law.

The respondent (i.e., the Revenue) has no objection with regard to the aforesaid caveat.

5.

In view of the aforesaid, the appeal is consigned to record and, for statistical purposes, is treated as dismissed.

Above decision was announced on conclusion of Virtual Hearing in the presence of both the parties on 25th February, 2021.

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