REEBOK INDIA COMPANY,NEW DELHI vs. DCIT, CIRCLE- 21(1), NEW DELHI

Learned Counsel for the assessee, vide letter dated 8th January, 2. 2021, 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 year under consideration and requested for withdrawal of its appeal.

Considering the aforesaid situation, the captioned appeal of the assessee 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 Act, 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 Revenue has no objection with regard to the aforesaid caveat.

So far as the appeal of Revenue is concerned, as submitted by ld. DR, the standing instructions are that it is only if the assessee makes payment subsequent to the processing of the case under Vivad Se Vishwas Tak Scheme,2020, the Revenue will seek withdrawal of the case. In view of this, we make it clear that in case any objection arises in issuance of Form 3 or in assessee making any payment subsequent thereto, the Revenue shall be at liberty to approach the Court.