QUIPPO OIL AND GAS INFRASTRUCTURE LTD.,NEW DELHI vs. DCIT, NEW DELHI

(A) This appeal by the assessee is filed against the order of Learned Commissioner of Income Tax (Appeals)-VII, New Delhi, [Ld. CIT(A)”, for short], dated 17/03/2015 for Assessment Year 2011-12. Grounds taken in this appeal of Assessee are as under:

“ 1.0 That on the facts and in the circumstances of the case, the Learned Commissioner of Income Tax (Appeals) [here-in-after referred to as Ld. CIT (Appeals)] was not justified & grossly erred in confirming the disallowance of provision for Leave Encashmentof Rs. 15,77,630/-u/s 43B of the Act. Page 1 of 4

ITA No.-4314/Del/2015 Quippo Oil and Gas Infrastructure Ltd. That on the facts and in the circumstances of the case, the 2.0 Ld. CIT(Appeals) was not justified & grossly erred in confirming disallowance of interest u/s 36(l)(iii) amounting to Rs. 14,80,867/- in computing total income under normal provisions of the Act. 3.0 That on the facts and in the circumstances of the case, the Ld. CIT(Appeals) was not justified and grossly erred in confirming disallowance of interest based on facts pertaining to earlier years and not based on facts for the current year. 4.0 That on the facts and in the circumstances of the case, and without prejudice to Ground No. 2.0 & 3.0 taken here-in- above, the Ld. CIT(Appeals) was not justified & grossly erred in not considering the consequential claim of depreciation on account of increase in actual cost of the asset. 5.0 That on the facts and in the circumstances of the case, the Ld. CIT(Appeals) was not justified & grossly erred in confirming disallowance of mobilization expenses u/s 40(a)(ia) of Rs. 3,68,76,730/- for non deduction of tax without considering the fact that the appellant was not liable to deduct TDS on entire amount. 6.0 That on the facts and in the circumstances of the case, the Ld. CIT(Appeals) was not justified in holding that the appellant was not covered by Section 194C(6) of the Act without providing any reason for such conclusion and without considering the submissions of the appellant. That the appellant craves leave to add, to amend, modify, 7.0 rescind, supplement or alter any of the Grounds stated here-in- above, either before or at the time of hearing of this appeal.

(B) At the time of hearing, at the outset, the learned Counsel for the Assessee informed us that the assessee has opted to settle the aforementioned appeals under Vivad Se Vishwas Scheme, 2020 (“VSVS”, for short) and that the assessee has already filed the relevant forms. She also informed that Form-3 has been issued already by competent authority under VSVS. The Ld. Counsel for assessee also drew our attention to letter

ITA No.-4314/Del/2015 Quippo Oil and Gas Infrastructure Ltd. dated 4th February, 2021 filed in Income Tax Appellate Tribunal (“ITAT”, for short) giving intimation for the same, and requesting to withdraw this appeal.

(B.1) At the time of hearing before us, the Ld. Counsel for assessee as well as the learned Commissioner of Income Tax (Departmental Representative) (“Ld. CIT- DR”, for short) submitted before us that this appeal may be treated as withdrawn and may be dismissed on account of the aforesaid VSVS. After due consideration, and in view of the foregoing; and as both sides have agreed to this; we are of the view that this appeal has become infructuous, and treat this appeal as withdrawn on account of the aforesaid VSVS.

Accordingly, this appeal having become infructuous, is hereby dismissed as withdrawn, subject to settlement of the disputes in the appeals under the aforesaid VSVS.

(C) Before we part, we hereby clarify, by way of abundant caution, that if for some reason the disputes under this appeal before us are not settled under the aforesaid VSVS, then the assessee will be at liberty to approach ITAT for restoration of this appeal, in accordance with law.

(D) Our order was already pronounced orally in Open Court on 22.02.2021 in the presence of the representatives of both sides; after the conclusion of hearing. Now this order in writing is being released today on 23/02/21.