MCKINSEY KNOWLEDGE CENTRE INDIA PVT. LTD.,GURGAON vs. DCIT, CIRCLE- 16(2), NEW DELHI

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ITA 5889/DEL/2017Status: DisposedITAT Delhi16 February 2021AY 2013-142 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The Tribunal dismissed the appeal as withdrawn by the assessee. The dismissal was with liberty to restore the appeal if the dispute settlement under the scheme was not finalized.

What were the facts?

The assessee filed an appeal against an order passed by the Assessing Officer. The assessee later sought to withdraw the appeal. This was because the assessee had opted to settle the tax dispute under the "Vivad Se Vishwas Scheme, 2020".

What were the issues?

Whether the appeal should be dismissed due to the assessee opting for the Vivad Se Vishwas Scheme. The primary issue was the procedural consequence of the assessee's decision to settle the dispute under the scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

AI-generated summary — verify with the full judgment below

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

Before: SHRI KULDIP SINGH & SHRI PRASHANT MAHARISHI

For Appellant: Shri Harpreet Singh Ajmani, Advocate
For Respondent: Shri Surender Pal, CIT DR
Hearing: 16.02.2021

Date of Hearing : 16.02.2021 Date of Order : 16.02.2021 O R D E R PER KULDIP SINGH, JUDICIAL MEMBER : Appellant, McKinsey Knowledge Centre India Pvt. Ltd. (hereinafter referred to as ‘the assessee’), by filing the present appeal, sought to set aside the impugned order dated 19.07.2017 passed by the Assessing Officer u/s 143 (3) r/w section 144C of the Income-tax Act, 1961 (for short ‘the Act’) qua the assessment year 2013-14.

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 16th day of February, 2021 after the conclusion of the virtual hearing.

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