TOYO INK INDIA PVT. LTD.,DELHI vs. ACIT, CIRCLE- 25(2), NEW DELHI

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ITA 6903/DEL/2017Status: DisposedITAT Delhi07 January 2021AY 2013-143 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 the assessee chose to settle the dispute under the Vivad Se Vishwas Scheme. The appeal was dismissed with liberty to get it restored if the dispute is not settled as per the scheme.

What were the facts?

The assessee sought to set aside the impugned order for AY 2013-14. The assessee opted to settle the dispute under the "Vivad Se Vishwas Scheme, 2020" and filed necessary forms.

What were the issues?

Whether the appeal should be dismissed due to the assessee opting for the Vivad Se Vishwas Scheme for dispute resolution.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘I-2’ : NEW DELHI

Before: SHRI R.K. PANDA & SHRI KULDIP SINGH

For Appellant: Ms. Raj Nandini, Advocate
For Respondent: Shri M. Barnwal, Senior DR
Hearing: 07.01.2021

PER KULDIP SINGH, JUDICIAL MEMBER : Appellant, M/s. Toyo Ink India Pvt. Ltd. (hereinafter referred to as ‘the assessee’), by filing the present appeal, sought to set aside the impugned order dated 20.09.2017 passed by the Assessing Officer (AO) in consonance with the orders passed by the ld. DRP/TPO under section 143 (3) read with section 144C of the Income-tax Act, 1961 (for short ‘the Act’) qua the assessment year 2013-14.

2.

Ld. Counsel for the assessee filed an application seeking adjournment of the case on the ground 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” and has filed necessary Forms 1 & 2 with the Tax Department.

3.

Keeping in view the aforesaid facts, present appeal is hereby dismissed with liberty to get it restored by the assessee in case dispute is not settled as per scheme. The Revenue has no objection with regard to the aforesaid caveat. Consequently, the present appeal is dismissed. Order pronounced in open court on this 7th day of January, 2021 after the conclusion of the virtual hearing.

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