RELIGARE CAPITAL MARKETS LTD.,NEW DELHI vs. DCIT, CIRCLE-21(1), NEW DELHI

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ITA 6924/DEL/2018Status: DisposedITAT Delhi01 February 2021AY 2014-152 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The Tribunal dismissed the appeal as withdrawn, subject to the condition that if the dispute is not resolved under the VSV scheme, the assessee can seek reinstitution of the appeal.

What were the facts?

The assessee filed an appeal against an order for AY 2014-15. The assessee later opted for the Vivad Se Vishwas (VSV) scheme and filed the necessary declarations.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 144C(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI

Before: SH. ANIL CHATURVEDI & SH. K. NARASIMHA CHARY

For Appellant: Ms. Saumya Jain. C.A
For Respondent: Shri M. Baranwal, Sr.D.R
Hearing: 01/02/2021Pronounced: 01/02/2021

ORDER

PER ANIL CHATURVEDI, AM:

1.

This appeal filed by the assessee is directed against the order of the Deputy Commissioner of Income Tax, Circle-21(1), New Delhi u/s 144C(1) of the Act pursuant to the direction of Deputy Resolution Panel (DRP) New Delhi order dated 27.07.2018 for Assessment Year 2014-15.

2.

Before us, assessee has moved an application dated 30.01.2021 wherein the assessee has stated that it has opted for 2 Vivad Se Vishwas (VSV) 2020 and has filed the declaration (Form- 1) and undertaking (Form-2) Scheme and Designated Authority is yet to issue certificate in Form-3.

3.

After considering the request made by the assessee, we dismiss the appeal of assessee as withdrawn subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of the aforesaid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 assessee shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriately as per law. With these directions the appeal of the assessee is dismissed as withdrawn.

In the result, appeal of the assessee is dismissed. 4.

Order pronounced in the open court on 01.02.2021

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