RELIGARE CAPITAL MARKETS LTD.,NEW DELHI vs. DCIT, CIRCLE-21(1), NEW DELHI

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ITA 7329/DEL/2017Status: PendingITAT Delhi27 October 2020AY 2013-143 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, subject to the condition that if the dispute is not resolved under the Vivad Se Vishwas Scheme, the assessee can seek reinstitution of the appeals.

What were the facts?

The assessee filed appeals for assessment years 2009-10 and 2013-14. The assessee subsequently opted to settle the tax disputes under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

The primary issue was the settlement of tax disputes under the Vivad Se Vishwas Scheme and its impact on pending appeals before the Tribunal.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C,Section 92CA

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH : I-2 : NEW DELHI

Before: SHRI R.K. PANDA & SHRI K. NARASIMHA CHARY

For Appellant: Ms Somya Jain, Advocate
For Respondent: Shri Anubham Kant Garg, CIT-DR
Hearing: 27.10.2020Pronounced: 27.10.2020

ORDER PER BENCH: filed by the assessee is directed against the order dated 30th January, 2014 passed by the AO u/s 143(3) r.w. section 144C of the IT Act, 1961 for assessment year 2009-10. ITA No.7329/Del/2017 filed by the assessee is directed against the order dated 28th September, 2017 passed u/s 143(3) r.w. section 144C and section 92CA of the IT Act, 1961 for A.Y. 2013-14. For the & sake of convenience, these appeals were heard together and are being disposed of by this common order.

2.

The ld. Counsel for the assessee, at the time of hearing, submitted that the assessee has opted to settle the dispute relating to the tax arrears for the above assessment years under consideration under the Vivad Se Vishwas Scheme, 2020.

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 aforesaid Scheme, the appellants (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 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.

1.

Above decision was announced in the presence of both the sides on conclusion of Virtual Hearing on 27th October, 2020.

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