PARK GLOBAL HOLDINGS INCORPORATED,UNITED STATES OF AMERICA vs. DCIT CIRCLE-2(2)(2), INTERNATIONAL TAXATION, NEW DELHI

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ITA 8300/DEL/2019Status: DisposedITAT Delhi11 February 2021AY 2016-173 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 accepted the assessee's request to withdraw the appeal due to the settlement under the Vivad Se Vishwas Scheme. The assessee was granted liberty to approach the Tribunal for re-institution if the settlement is not ultimately resolved.

What were the facts?

The assessee, M/s. Park Global Holdings Incorporated, filed an appeal against the final assessment order for AY 2016-17. The assessee subsequently opted to settle the dispute under the 'Vivad Se Vishwas Scheme, 2020'.

What were the issues?

The primary issue was whether the appeal could be withdrawn by the assessee due to their participation in the Vivad Se Vishwas Scheme.

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.N. CHARY

For Respondent: Dr. Prabha Kant, CIT
Hearing: 11.02.2021Pronounced: 11.02.2021

This appeal by the assessee is directed against the final Assessment Order dated 22.08.2019 passed by the learned Assistant Commissioner of Income Tax, Circle-International Taxation-2(2)(2), New Delhi, in pursuant to the direction of learned Dispute Resolution Panel (DRP).

3.

The learned counsel for the assesee, vide its letter dated 4th January, 2021, requested for withdrawal of the appeal as 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”. The learned counsel submitted that the assessee has also received From No. 3, which is placed on record. However, since there was certain typographical error in the amounts in Form No. 3, the assessee has filed a rectification application for amending the figures in Form No. 3, which is yet to be received. She, therefore, seeks permission to withdraw the appeal, subject to the rectification in Form No. 3. 2. We have heard learned Representative of both the parties through Video Conferencing. 3. In view of above, we accept the request of the assessee for withdrawal of the appeal. However, if the dispute relating to tax arrears is not ultimately resolved in terms of the ‘Vivad Se Vishwas Scheme, 2020’, the assessee shall be at liberty to approach the Tribunal for re-institution of the appeal and the Tribunal shall consider such application appropriately as per law.

4.

In view of the aforesaid, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open court.

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