SETH EQUITIES P.LTD,NEW DELHI vs. ITO, WARD-23(1), NEW DELHI

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ITA 849/DEL/2019Status: DisposedITAT Delhi14 December 2020AY 2009-103 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 consigned the appeal to records and treated it as dismissed. This dismissal is conditional on the dispute being resolved under the Vivad Se Vishwas Act.

What were the facts?

The assessee requested withdrawal of their appeal before the ITAT. This was due to opting for settlement under the Vivad Se Vishwas Act, 2020, for the assessment year 2009-10.

What were the issues?

Whether an appeal can be withdrawn and dismissed due to the assessee opting for a settlement scheme.

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 ‘A’ NEW DELHI

Before: SHRI G.S. PANNU & SHRI AMIT SHUKLA

For Appellant: Ms Soumya Jain, CA
For Respondent: Shri Jagdish Singh, Sr. DR
Hearing: 14.12.2020Pronounced: 14.12.2020

PER G.S. PANNU, VICE PRESIDENT

1.

This appeal by the assessee is directed against the order of learned Commissioner of Income Tax(A)-30, New Delhi dated 18.12.2018 and pertains to assessment year 2009-10.

ITA 849/Del/2019

2.

The learned counsel for the assessee, vide letter dated 04.12.2020 received through email, 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').

3.

Considering the aforesaid situation, the captioned appeal is 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 year is not ultimately resolved in terms of the aforestated 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 is consigned to record and, for statistical purposes, is treated as dismissed.

ITA 849/Del/2019

Above decision was announced on conclusion of Virtual Hearing in the presence of both the parties on 14th December, 2020.

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