M/S. VEE GEE INDUSTRIAL ENTERPRISES,NEW DELHI vs. DCIT, FARIDABAD

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ITA 1326/DEL/2017Status: DisposedITAT Delhi25 November 2020AY 2008-093 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 noted the assessee's request for withdrawal due to opting for the Vivad Se Vishwas Act. The appeal was consigned to records and treated as dismissed, subject to reinstitution if the dispute is not resolved under the Act.

What were the facts?

The assessee filed an appeal before the ITAT for assessment year 2008-09. Subsequently, the assessee requested withdrawal of the appeal as they opted to settle the tax dispute under the Vivad Se Vishwas Act, 2020.

What were the issues?

Whether an appeal can be withdrawn and dismissed when the assessee opts for settlement under the Vivad Se Vishwas Act, with a provision for reinstitution.

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

For Appellant: Shri Tarun Kumar, Advocate
For Respondent: Shri M. Baranwal, Sr. DR
Pronounced: 25.11.2020

PER G.S. PANNU, VICE PRESIDENT

1.

This appeal by the assessee is directed against the order of learned CIT(A)-3, Gurgaon dated 31.01.2017 and pertains to assessment year 2008- 09.

2.

The assessee, vide letter dated 16.10.2020, has requested for withdrawal of the appeal filed by him and stated that the assessee has opted to settle the ITA 1326/D/2017 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.

Above decision was announced on conclusion of Virtual Hearing in the presence of both the parties on 25th November, 2020.

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