NEXG VENTURES INDIA P.LTD,NEW DELHI vs. DCIT, CIRCLE-18(1), NEW DELHI

These are the three appeals preferred by the assessee for the Assessment Years 2013-14, 2014-15 and 2015-16. For Assessment Year 2013-14 and 2014-15 appeals preferred by the assessee against the order of the ld CIT(A)-28, New Delhi, for Assessment Year 2013-14, the disallowance of Rs. 47483184/- u/s 14A of the Income Tax Act, 1961 was confirmed along with disallowances u/s 37(1) on identical grounds. For Assessment Year 2014-15 the disallowance u/s 14A of Rs. 18,39,00,000/- was confirmed and identical sum was also disallowed u/s 37(1) of the Act. For Assessment Year 2015-16 assessee preferred an appeal against the order of the ld CIT(A)-37, New Delhi dated 20.03.2019 wherein, disallowance u/s 14A of Rs. 19,15,84,941/- was confirmed.

At the time of hearing of the appeal the ld AR submitted that the assessee is opting the settlement of the dispute under Vivad Se Viswas scheme. He submitted that assessee is in process of filng requsite application .Therefore, all these appeals may be treated as withdrawn.

The ld DR did not raise any objection.

In view of the above statement at bar by the ld AR the bench asked to submit copy of Form NO. 1 and 2 filed under that scheme. The ld AR submitted that company is in process of filing those forms. However, he consented that these appeals may be treated as withdrawn. In view of this, we dismiss all these three appeals filed by the assessee as withdrawn. However, the assessee is granted liberty to apply for recall this order in case form NO. 3 under that particular scheme are not issued to the assessee.

In the result, all these three appeals are dismissed as withdrawn. Order pronounced in the open court on 25/11/2020. - - (H.S.SIDHU) ACCOUNTANT MEMBER Dated : 25/11/2020 A K Keot