Loading judgment…
No AI summary yet for this case.
(A) This appeal by Revenue is filed against the order of Learned Commissioner of Income Tax (Appeals)-29, New Delhi, [“Ld. CIT(A)”, for short], dated 30.11.2016 for Assessment Year 2007-08. Grounds taken in this appeal of Revenue are as under:
“1. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in law and on facts in deleting the addition of Rs. 3,00,00,000/- made u/s 68 of the I.T. Act on account of unexplained cash credits. 2. On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in law and on facts by replying on the decision in the case of Sh. Kabul Page 1 of 4
ITA No.-680/Del/2017. Pradeep Sons Pvt. Ltd. Chawla by the jurisdictional High Court which has not been accepted by the departmental and SLP against the same has been filed before Hon’ble Supreme Court.
On the facts and in circumstances of the case, the Ld. CIT(A) has erred in law and on facts in adopting a restrictive and pedantic interpretation of the scope of assessment u/s 153A of the Act.
That the order of the CIT(A) is perverse, erroneous and is not tenable on facts and in law.
That the grounds of appeal are without prejudice to each other.
6. That the appellant craves leave to add, amend, alter or forego any ground(s) of appeal either before or at the time of hearing of the appeal.”
(B) At the time of hearing, at the outset, the Ld. Counsel the Assessee informed us that the assessee has opted for Vivad Se Vishwas Scheme, 2020 (“VSVS”, for short) for the settlement of subject matter of the disputes in this appeal. He drew our attention to Email dated January 25th, 2021 sent from assessee’s side in Income Tax Appellate Tribunal (“ITAT”, for short) giving intimation of the same. At the time of hearing before us, the Ld. Counsel for assessee submitted before us that this appeal may be dismissed on account of the aforesaid VSVS. The learned Commissioner of Income Tax (Departmental Representative) [“Ld. CIT(DR)”, for short] did not express any objection to this. After due consideration, and in view of the foregoing; we are of the opinion that this appeal has become infructuous on account of aforesaid VSVS, and that this appeal may be treated as withdrawn by Revenue on account of the aforesaid VSVS. Accordingly, the appeal having become infructuous, is treated as withdrawn and, is hereby dismissed.
ITA No.-680/Del/2017. Pradeep Sons Pvt. Ltd. (B.1) Before we part, we hereby clarify, by way of abundant caution, that if for some reason it is found by Revenue that the disputes under this appeal before us are not fully settled under the aforesaid VSVS, then Revenue will be at liberty to approach ITAT for restoration of this appeal, in accordance with law.
(B.2) With these directions, the aforesaid appeal of Revenue is dismissed, being treated as withdrawn.
(C) For statistical purposes, this appeal is dismissed.
This order was already pronounced on 27th January, 2021 in Open Court, in the presence of Representatives of both sides; after conclusion of the hearing.