M/S. SVP INDUSTRIES LTD.,UTTAR PRADESH vs. ACIT, NEW DELHI

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ITA 1496/DEL/2016Status: DisposedITAT Delhi14 January 2021AY 2011-122 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 allowed the withdrawal of the appeal, subject to the condition that if the dispute is not resolved under the Vivad Se Vishwas Scheme, the assessee can seek reinstitution of the appeal. The learned DR had no objection to this condition.

What were the facts?

The assessee filed an appeal against an order of the CIT(A) for AY 2011-12. The assessee requested withdrawal of the appeal as they opted to settle the tax arrears under the Vivad Se Vishwas Scheme.

What were the issues?

The primary issue was whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme, with a caveat for potential reinstitution.

AI-generated summary — verify with the full judgment below

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

Before: SHRI BHAVNESH SAINI & SHRI O.P. KANT

For Appellant: Shri M.P. Rastogi, Adv
For Respondent: Shri S.S. Negi, Sr.DR
Hearing: 14.01.2021Pronounced: 14.01.2021

ORDER PER O.P. KANT, AM:

The present appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-30, New Delhi, dated 30.01.2016 passed for assessment year 2011-12. 3. At the outset, Shri M.P. Rastogi, Advocate, the learned counsel for the assessee, has requested for withdrawal of the appeal as the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration, under the “Vivad Se Vishwas Scheme, 2020”, for which, he has filed Form No. 1 & 2.

2.

However, it is submitted by the appellant that the aforesaid be subjected to a caveat that in case the dispute relating to tax arrears for the assessment year under consideration is not ultimately resolved in terms of the aforestated Scheme, the appellant shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriately as per law. As the learned DR has no objection with regard to the aforesaid caveat, accordingly, we hold so.

3.

In view of the aforesaid, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open Court.

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