M/S. SHYAM TELECOM LTD.,NEW DELHI vs. ACIT, NEW DELHI

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ITA 4327/DEL/2011Status: DisposedITAT Delhi11 February 2021AY 2007-082 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 noted the assessee's intention to settle under the Vivad se Vishwas Act. The appeal was consigned to record and treated as dismissed for statistical purposes, with liberty to the assessee to seek reinstitution if the settlement fails.

What were the facts?

The assessee filed an appeal before the ITAT. The assessee subsequently informed the Tribunal that they had opted to settle the dispute under the Vivad se Vishwas Act, 2020, and requested withdrawal of the appeal.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad se Vishwas Act.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 “I-1” NEW DELHI

Before: SHRI AMIT SHUKLA & SHRI PRASHANT MAHARISHI

For Appellant: Shri Abhishek Aggarwal, Adv
For Respondent: Shri Surender Pal, CIT-D.R

PER AMIT SHUKLA, J.M.: The aforesaid appeal has been filed by the assessee against the impugned order dated 29.07.2011 passed by Assistant Commissioner of Income Tax, Central Circle-II, New Delhi for the Assessment Year 2007-08.

2.

The ld. counsel for the assessee, vide its letter dated 11th February, 2021 has intimated the Tribunal 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 Act, 2020 (in short ‘the Act’) and requested for withdrawal of the said appeal.

3.

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.

4.

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 11th February, 2021.

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