VIRENDER KUMAR BANSAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- II, GURGAON

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ITA 5427/DEL/2017Status: DisposedITAT Delhi26 November 2020AY 2006-072 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 decision to settle the dispute under the Vivad Se Vishwas Act and decided to consign the appeal to records. The dismissal is conditional upon the dispute not being resolved under the Act.

What were the facts?

The assessee had appealed an order from the CIT(A) for the assessment year 2006-07. The assessee subsequently opted to settle the tax dispute under the Vivad Se Vishwas Act, 2020.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal 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: Ms. Mansi Jain, CA
For Respondent: Shri. M. Baranwal, Sr. DR
Hearing: 26.11.2020Pronounced: 26.11.2020

ORDER PER G.S. PANNU, VP : This appeal by the assessee for the assessment year 2006-07 is directed against the order of learned CIT(A), Gurgaon dated 12.05.2017.

2.

The learned counsel for the assessee, vide his letter dated 27.10.2020, has intimated the Tribunal that the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration under 2 ITA-5427/Del/2017 the Vivad Se Vishwas Act, 2020 (in short ‘the Act’) and requested for withdrawal of the said appeal.

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 26th November, 2020.

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