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

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.

In view of the aforesaid, the appeal of the assessee is dismissed as withdrawn.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