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

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ITA 1328/DEL/2017Status: DisposedITAT Delhi24 November 2020AY 2010-113 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 appeals to records and treated them as dismissed. However, liberty was granted to the assessee to approach the Tribunal for reinstitution if the dispute is not resolved under the Vivad Se Vishwas Act.

What were the facts?

The assessee requested withdrawal of their appeals before the ITAT, stating they had opted to settle the tax dispute under the Vivad Se Vishwas Act, 2020. The Revenue had no objection to this request.

What were the issues?

Whether the appeals should be dismissed as withdrawn by the assessee due to opting for settlement under the Vivad Se Vishwas Act.

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: 24.11.2020

PER G.S. PANNU, VICE PRESIDENT These appeals by the assessee are directed against the order of learned CIT(A)-3, Gurgaon dated 31.01.2017 and pertain to assessment years 2009-10 and 2010-11.

1.

The learned counsel for the assessee, vide letter dated 13th November, 2. 2020, received through email, has requested for withdrawal of the appeals filed by the assessee and stated that the assessee has opted to settle the dispute ITA 1327/D/2017 & 1328/D/2017 relating to the tax arrears for the assessment years under consideration under the Vivad Se Vishwas Act, 2020 (in short ‘the Act').

3.

Considering the aforesaid situation, the captioned appeals are 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 years 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 appeals 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 appeals are consigned to record and, for statistical purposes, are treated as dismissed.

Above decision was announced on conclusion of Virtual Hearing in the presence of both the parties on 24th November, 2020.

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