M/S. KRIPA RAM DAIRY (P) LTD.,NEW DELHI vs. DCIT, GHAZIABAD

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ITA 3290/DEL/2015Status: DisposedITAT Delhi27 October 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The tribunal dismissed the appeal as withdrawn, allowing the assessee to approach the tribunal again if the settlement under the Vivad se Vishwas scheme fails for technical reasons.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order confirming an addition of Rs. 4.27 crores on account of share premium. The assessee informed the tribunal that they are contemplating settlement under the Vivad se Vishwas scheme.

What were the issues?

The primary issue was the confirmation of an addition on account of share premium. However, the appeal was disposed of due to the assessee's intention to settle under the Vivad se Vishwas scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI ‘D’ BENCH,

Before: SHRI N.K. BILLAIYA & MS. SUCHITRA KAMBLE

Hearing: 27.10.2020Pronounced: 27.10.2020

PER N. K. BILLAIYA, AM:

1.

This appeal by the assessee is preferred against the order of the CIT(A), Muzaffarnagar dated 03.03.2015 pertaining to A.Y. 2010-11.

2.

The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the addition of Rs.4.27 crores made by the AO on account of share premium. 1

3.

At the very outset the counsel for the assessee stated that the assessee is contemplating to settle the dispute under Vivad se vishwas scheme and is awaiting certificate from the appropriate authority. The appeal may be taken as withdrawn.

4.

Though the DR requested for adjournment but we are of the opinion that the appeal can be dismissed as withdrawn. However, the assessee would be at liberty to approach the Tribunal if for some technical reason the dispute is not settled under Vivad se vishwas scheme. 5. In the result, the appeal filed by the assessee is dismissed as withdrawn. Order pronounced in the open court on 27.10.2020.

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