What did the Tribunal hold?

The Tribunal accepted the assessee's request to withdraw the appeal. The appeal was dismissed as withdrawn in light of the settlement under the Vivad Se Vishwas Scheme.

The assessee filed an appeal for the assessment year 2011-12. Subsequently, the assessee requested to withdraw the appeal. This was due to opting for settlement under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

The primary issue was whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad Se Vishwas Scheme.

M/S. Prayas Gems & Jewellers (P)… vs ACIT | ITAT Delhi 2020

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

Hearing: 31.12.2020Pronounced: 31.12.2020

ORDER PER G.S.PANNU, VP: This appeal by the assessee for the assessment year 2011-12 is directed against the order of learned CIT(A)-36, New Delhi dated 01.02.2017.

The learned counsel for the assessee, vide email dated 28.12.2020 has requested for withdrawal of the appeal filed by the assessee and stated that the assessee has opted to settle the dispute relating to the tax arrears for the M/s. Prayas Gems & Jewellers (Pvt.) Ltd. Vs. ACIT 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In the result, the appeal of the assessee is dismissed as withdrawn.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 in the presence of both the sides on conclusion of Virtual Hearing on 31st December, 2020.

M/S. PRAYAS GEMS & JEWELLERS (P) LTD.,NEW DELHI vs. ACIT, NEW DELHI

What did the Tribunal hold?

What were the facts?

What were the issues?

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