What did the Tribunal hold?

The Tribunal accepted the assessee's request for withdrawal of the appeal. The appeal was accordingly dismissed as withdrawn.

The assessee requested to withdraw its appeal for the assessment year 2014-15. This was due to opting for settlement under the 'Vivad Se Vishwas Scheme, 2020'. A certificate under the scheme was also filed.

What were the issues?

Whether the assessee's appeal can be withdrawn due to opting for settlement under the Vivad Se Vishwas Scheme. The primary issue is the procedural aspect of withdrawing an appeal based on a statutory settlement scheme.

Csl Finance Ltd. (Formerly Known… vs ACIT | ITAT Delhi 2021

Income Tax Appellate Tribunal, DELHI “A” BENCH: NEW DELHI

Before: SHRI G.S. PANNU & SHRI SUDHANSHU SRIVASTAVA

Hearing: 08.01.2021Pronounced: 08.01.2021

This appeal by the assessee for the assessment year 2014-15 is directed against the order of learned CIT(A)-23, New Delhi dated 31.12.2019.

The learned counsel for the assessee, vide its letter dated 06.01.2021, received through email, has requested for withdrawal of the appeal filed by him and stated that 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”. A certificate to this effect under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020 has also been filed.

Learned Senior DR has no objection.

In view of the above, we accept the request of the assessee for withdrawal of the appeal.

In the result, the appeal of the assessee is dismissed as withdrawn.

Above decision was announced on conclusion of Virtual Hearing on 08th January, 2021.

CSL FINANCE LTD. (FORMERLY KNOWN M/S CONSOLIDATED SECURITIES LTD.),NEW DELHI vs. ACIT CENTRAL CIRCLE-1, NEW DELHI

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What were the facts?

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