M/S. Y.K. JEWELLERS PVT. LTD.,DELHI vs. ITO, NEW DELHI

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ITA 2623/DEL/2017Status: DisposedITAT Delhi02 February 2021AY 2006-073 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 dismissed the appeal as the assessee had opted for settlement under the Vivad se Vishwas Scheme. The dismissal was with liberty to restore the appeal if the dispute settlement failed.

What were the facts?

The assessee filed an appeal against an order for assessment year 2006-07. The assessee later opted to settle the tax dispute under the "Vivad se Vishwas Scheme, 2020".

What were the issues?

The primary issue was the fate of the appeal after the assessee chose to settle the dispute under a government scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘G’ : NEW DELHI

Before: SHRI R.K.PANDA & SHRI KULDIP SINGH

Hearing: 02.02.2021

PER KULDIP SINGH, JUDICIAL MEMBER :

1.

Appellant, M/s. Y.K.Jewellers Pvt. Ltd. (hereinafter referred to as ‘the assessee’), by filing the present appeal, sought to set aside the impugned order dated 22.02.2017 passed by Ld. CIT(A)- 9, New Delhi qua the assessment years 2006-07.

2.

The Ld. Counsel for the assessee filed an application seeking withdrawal of the appeal on the ground that the assessee has opted to settle the dispute relating to the tax arrears for the Scheme, 2020” and has filed necessary Form 1 & 2 with the Tax Department, which was accepted and processed vide Form 3 issued by the Tax Department.

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