DIPESH MAHESHWARI (HUF),NEW DELHI vs. ITO WARD - 40(3), NEW DELHI

The learned counsel for the assessee, vide letter dated 29.12.2020 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 assessment year under consideration under the Vivad Se Vishwas Act, 2020 (in short ‘the Act’).

Considering the aforesaid situation, the captioned appeal is consigned to records and treated as dismissed.

However, the aforesaid is 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 appellant (i.e. the assessee) shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriately as per law. The respondent (i.e. the Revenue) has no objection with regard to the aforesaid caveat. 5. In view of the aforesaid, the appeal of the assessee is consigned to record and, for statistical purposes, is treated as dismissed. Above decision was announced on conclusion of Virtual Hearing in the presence of both the parties on 31st December, 2020.