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

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ITA 1267/DEL/2018Status: DisposedITAT Delhi25 November 2020AY 2014-153 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The Tribunal dismissed the appeals as withdrawn based on the assessee's submission that they were opting for the Vivad Se Viswas scheme. The assessee was granted liberty to apply for recall of the order if the necessary forms under the scheme were not issued.

What were the facts?

The assessee filed appeals against orders confirming disallowances under Section 14A and Section 37(1) for assessment years 2013-14, 2014-15, and 2015-16. During the hearing, the assessee stated they were opting for the Vivad Se Viswas scheme and were in the process of filing the required applications.

What were the issues?

Whether the appeals should be dismissed as withdrawn due to the assessee opting for the Vivad Se Viswas scheme.

Which sections of the Income-tax Act were involved?

Section 14A,Section 37(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “E”: NEW DELHI

Before: SHRI H.S.SIDHU & SHRI PRASHANT MAHARISHI

For Appellant: Shri Amol Singha, Adv
For Respondent: Ms. Parmita M. Biswas, CIT DR
Hearing: 19/11/2020Pronounced: 25/11/2020

PER PRASHANT MAHARISHI, A. M.

1.

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.

2.

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He submitted that assessee is in process of filng requsite application .Therefore, all these appeals may be treated as withdrawn.

3.

The ld DR did not raise any objection.

4.

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.

5.

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

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