COSMIQUE PVT. LTD.,NEW DELHI vs. ACIT, CIRCLE- 6(2), NEW DELHI

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ITA 2718/DEL/2019Status: DisposedITAT Delhi09 February 2021AY 2014-153 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 the dispute under the Vivad Se Vishwas Act. The appeal was consigned to records and treated as dismissed, subject to the condition that it can be reinstituted if the settlement is not resolved.

What were the facts?

The assessee filed an appeal for assessment year 2014-15. The assessee's Managing Director informed the Tribunal that they have opted to settle the dispute under the Vivad Se Vishwas Act, 2020.

What were the issues?

Whether the appeal should be dismissed as the assessee has opted for settlement under the Vivad Se Vishwas Act, with a provision for reinstitution if the settlement fails.

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, IN THE INCOME TAX APPELLATE TRIBUNAL

Before: SHRI R.K. PANDA

Hearing: 09.0Pronounced: 09.0

ORDER ORDER ORDER ORDER PER PER R.K. PANDA, AM PER PER R.K. PANDA, AM R.K. PANDA, AM : R.K. PANDA, AM This appeal by the assessee for the assessment year 2014-15 is directed against the order of learned CIT(A)-33, New Delhi.

2.

The Ld. Counsel for the assessee’s Managing Director vide his letter dated 8.2.2021, 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.

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

4.

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 aforesaid 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 2 Del/2019 No. . . . 2718 ITA No ITA No 2718 2718/Del/20 2718 Del/20 Del/20 application appropriately as per law. The respondent (i.e., the Revenue) has no objection with regard to the aforesaid caveat. 5. 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 9th February, 2021. Sd/-

(R.K. PANDA R.K. PANDA R.K. PANDA) R.K. PANDA ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER

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