ONGC VIDESH LTD.,NEW DELHI vs. ADDL. CIT, SPECIAL RANGE-7, NEW DELHI

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ITA 7377/DEL/2017Status: DisposedITAT Delhi11 January 2021AY 2011-122 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted the assessee's decision to settle the dispute under the Vivad se Vishwas Act. Consequently, the appeals were consigned to records and treated as dismissed, subject to the condition that they could be reinstituted if the settlement was not finalized.

What were the facts?

The assessee, ONGC Videsh Ltd., filed appeals for assessment years 2011-12 and 2013-14. The assessee later opted to settle the tax arrears under the Vivad se Vishwas Act, 2020.

What were the issues?

Whether appeals should be dismissed when the assessee opts for settlement under the Vivad se Vishwas Act. The conditionality of the dismissal was also considered.

Which sections of the Income-tax Act were involved?

Vivad se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

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

Before: SHRI ANIL CHATURVEDI & SHRI K. NARASIMHA CHARY

Hearing: 11/01/2021

PER K. NARASIMHA CHARY, J.M. These appeals by ONGC Videsh Limited (the assessee) for assessment years 2011-12 and 2013-14 are directed against the orders of learned Commissioner of Income-tax (Appeals)-44, New Delhi (CIT(A)) dated 29.09.2017.

2.

Learned Counsel for the assessee has intimated that the assessee has opted to settle the dispute relating to the tax arrears under the Vivad Se Vishwas Act, 2020 (in short ‘the Act’) for the assessment years under consideration and requested for withdrawal the said appeals.

3.

Considering the aforesaid situation, the captioned appeals are consigned to records and treated as dismissed.

4.

However, the aforesaid is subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment years is not ultimately resolved in terms of the Act, the assessee shall be at liberty to approach the Tribunal for reinstitution of the appeals and the Tribunal shall consider such application appropriately as per law. The Revenue has no objection with regard to the aforesaid caveat.

5.

In view of the aforesaid, both the appeals are consigned to record and, for statistical purposes, are treated as dismissed.

1.

Order was announced on conclusion of Virtual Hearing in the presence of both the parties on 11th January, 2021.

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