ITO, NEW DELHI vs. M/S. TECHNICO STRIPS & TUBES (P) LTD., NEW DELHI

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ITA 5208/DEL/2015Status: DisposedITAT Delhi05 November 2020AY 2011-124 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the appeal of the assessee as withdrawn due to the settlement under the Vivad se Vishwas Scheme. The appeal of the revenue was also dismissed.

What were the facts?

The assessee and revenue filed cross-appeals before the ITAT. The assessee informed the tribunal that they intended to settle the dispute under the Vivad se Vishwas Scheme.

What were the issues?

The primary issue was the settlement of the dispute under the Vivad se Vishwas Scheme, leading to the withdrawal and dismissal of appeals.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI ‘D’ BENCH,

Before: SHRI N.K. BILLAIYA, & SHRI K. N CHARY

For Appellant: Shri Sanjeeev Narayan, CA
For Respondent: Ms. Radha Katyal Narang, Sr. DR
Hearing: 04.11.2020Pronounced: 05.11.2020

Heard together (2 matters)

ITA No. 4554/DEL/2015
ITA No. 5208/DEL/2015

Read from the judgment's own cause title. This page is filed under one of them.

PER N.K. BILLAIYA, ACCOUNTANT MEMBER,

1.

The above two cross appeals by the assessee and revenue are preferred against the order of the Commissioner of Income Tax (Appeals)-9, New Delhi dated 31.03.2015 pertaining to Assessment Year 2011-12. Since both these appeals were heard together, these are being disposed of by this common order for the sake of convenience and brevity.

2.

At the very outset, the ld. counsel for the assessee stated that the assessee is settling the dispute under the Vivad se Vishwas Scheme and, therefore, it may be allowed to withdraw the appeal.

3.

On such concession, the appeal of the assessee is dismissed as withdrawn.

4.

Similarly, the appeal of the Revenue is also dismissed.

5.

However, if for some technical reason the dispute could not be settled under the Vivad se Vishwas Scheme, both/either party can approach the Tribunal as per the provisions of the law.

6.

In the result, the appeal of the Revenue in as well as the appeal of the assessee in ITA No. 4554/DEL/2015 stand dismissed.

The order is pronounced in the open court on 05.11.2020.

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