REC LTD (FORMELY KNOWN AS RURAL ELECTRIFICATION CORPORATION LTD.),NEW DELHI vs. ACIT CIRCLE-1, LTU, NEW DELHI

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ITA 6542/DEL/2019Status: DisposedITAT Delhi19 February 2021AY 2015-163 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 Income Tax Appellate Tribunal accepted the assessee's request for withdrawal of the appeals. The tribunal noted that the assessee had provided a certificate under the Vivad Se Vishwas Act, 2020, and the Senior DR had no objection.

What were the facts?

The assessee, M/s REC Limited, filed appeals for assessment years 2014-15, 2015-16, and 2016-17. The assessee requested withdrawal of these appeals as they had opted to settle the tax arrears under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

Whether the appeals filed by the assessee should be withdrawn and dismissed in light of the assessee opting for settlement under the Vivad Se Vishwas Scheme.

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 ‘F’: NEW DELHI

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

For Respondent: Shri. M. Baranwal, Sr. DR
Hearing: 19.02.2021Pronounced: 19.02.2021

PER R.K. PANDA, AM: These appeals by the assessee for the assessment years 2014-15, 2015-16 and 2016-17 are directed against the order of learned CIT(A), New Delhi dated 30.04.2019 and 31.05.2019 respectively.

2.

None appeared on behalf of the assessee at the time of Virtual Hearing before us. The assessee, vide its letter dated 15.02.2021, 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.

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 appeals of the assessee are dismissed. Above decision was announced on conclusion of Virtual Hearing on 19.02.2021. Sd/- Sd/- (K.N. CHARY) (R.K. PANDA) JUDICIAL MEMBER ACCOUNTANT MEMBER Sh

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