M/S. POWER FINANCE CORPORATION LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

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ITA 4069/DEL/2010Status: DisposedITAT Delhi18 January 2021AY 2005-064 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for the Vivad Se Vishwas scheme. Consequently, the appeals filed by both the assessee and the revenue were dismissed as withdrawn.

What were the facts?

The assessee and revenue filed appeals before the ITAT for assessment years 2004-05 to 2007-08. During the pendency of these appeals, the assessee filed applications for dispute resolution under the Vivad Se Vishwas Act, 2020.

What were the issues?

The primary issue was the pendency of appeals before the Tribunal when the assessee sought resolution under the Vivad Se Vishwas scheme.

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, DELHI BENCH ‘F’, NEW DELHI

Before: SH. N. K. BILLAIYA & MS. SUCHITRA KAMBLE

For Respondent: Smt. Sushma Singh, CIT DR
Hearing: 18/01/2021Pronounced: 18/01/2021

PER N. K. BILLAIYA, AM:

1.

The captioned appeals by the assessee and the revenue preferred against the orders for A.Y.2004-05 to 2007-08 respectively.

2.

At the time of hearing of the captioned appeals it was brought to our notice that the assessee has filed applications seeking resolution of pending dispute as per Vivad Se Vishwas Act, 2020. Copies of the declaration placed on record.

3.

On such concession the captioned appeals are dismissed as withdrawn. However, liberty is given to the appellants to approach the Tribunal for the revival of the appeals if for some technical reason the dispute could not be settled under the Vivaad Se Vishwas Scheme, 2020.

4.

Decision announced in the open court in the presence of both the representatives on 18.01.2021.

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