ACIT, NEW DELHI vs. M/S. SPRYANCE (INDIA) PVT. LTD, NEW DELHI

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ITA 923/DEL/2009Status: DisposedITAT Delhi14 January 2021AY 2004-053 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the appeals of both the assessee and the Revenue as withdrawn. This dismissal is subject to the condition that if the dispute is not resolved under the VSV scheme, the assessee can seek reinstitution of the appeals.

What were the facts?

The assessee opted for the Vivad Se Vishwas (VSV) scheme and filed the necessary declarations. The Designated Authority had not yet issued the certificate under the scheme. The appeals were filed by both the assessee and the Revenue.

What were the issues?

Whether the appeals should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas scheme, with a provision for reinstitution if the scheme fails to resolve the dispute.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI

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

For Appellant: Shri Ankit Sahni, Adv
For Respondent: Shri Surender Pal, CIT-DR
Hearing: 14/01/2021Pronounced: 14/01/2021

2 ORDER PER BENCH : The above appeals by the assessee and Revenue are preferred against the order of the Commissioner of Income Tax (Appeals)-XX, New Delhi dated 31.01.2008 pertaining to A.Y. 2003-04, 31.12.2008 pertaining to A.Y. 2004-05, 29.01.2010 pertaining to A.Y. 2005-06, 29.11.2010 pertaining to A.Y. 2003- 04 & 28.02.2011 pertaining to A.Y. 2004-05.

2.

Before us, assessee has moved an application dated 14th Jan 2021 wherein the assessee has stated that it has opted for 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After considering the request made by the assessee, we dismiss the appeals of assessee as withdrawn subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of the aforesaid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 appeals and the Tribunal shall consider such application appropriately as per law. With these directions, the appeals of the assessee as well as Revenue are dismissed as withdrawn.

In the result, appeals of the assessee as well as Revenue 4. are dismissed.

Order pronounced in the open court on 14.01.2021, immediately after conclusion of the hearing of the matter in virtual mode.

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