ITO, NEW DELHI vs. M/S ULTRA MODERN EXPORTS PVT. LTD., NEW DELHI

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ITA 3305/DEL/2011Status: DisposedITAT Delhi11 February 2021AY 2006-072 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the assessee had settled the dispute under the Vivad se Vishwas Act. Consequently, the appeal was treated as deemed to be withdrawn by the Revenue.

What were the facts?

The Revenue filed an appeal against the assessee's assessment year 2006-07 order. The assessee opted to settle the tax dispute under the Vivad se Vishwas Act, 2020.

What were the issues?

Whether the appeal should be withdrawn due to the assessee opting for settlement under the Vivad se Vishwas Act.

Which sections of the Income-tax Act were involved?

Vivad se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: ‘D’ NEW DELHI

Before: SHRI O.P. KANT & SHRI K.NARASIMHA CHARY

Hearing: 11/2/2021

this appeal by Revenue is directed against the orders of learned Commissioner of Income-tax (Appeals)- XXI, New Delhi (“Ld. CIT(A)”) in the case of M/s ultramodern Exports Private Limited (“the assessee”) for assessment year 2006-07.

2.

Learned Counsel for the assessee has intimated that the assessee has opted to settle the dispute relating to the tax arrears under the Vivad Se Vishwas Act, 2020 (in short ‘the Act’) for the assessment year under consideration and requested that this appeal should be treated as deemed to be withdrawn by the Revenue.

3.

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

Order was announced on conclusion of Virtual Hearing in the presence of both the parties on this the 11th day of February, 2021.

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