ACIT, NEW DELHI vs. M/S. FRUGAL DEVELOPERS PVT. LTD., NOIDA

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ITA 1393/DEL/2016Status: DisposedITAT Delhi28 August 2020AY 2011-123 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for the Vivad Se Vishwas Scheme and was awaiting Form 3. Both parties agreed to have the appeals dismissed as withdrawn, subject to the issuance of Form 3.

What were the facts?

Both the assessee and the Revenue filed appeals challenging the CIT(A)'s order for the assessment year 2011-12. The assessee had opted for the Vivad Se Vishwas Scheme and submitted Forms 1 and 2.

What were the issues?

The primary issue was the pendency of the Vivad Se Vishwas Scheme application and its impact on the ongoing appeals.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘B’: NEW DELHI

Before: SHRI PRASHANT MAHARISHI & SHRI K.NARASIMHA CHARY

For Appellant: Shri Somil Agarwal, Advocate
For Respondent: Smt. Nidhi Srivastava,CIT-DR
Hearing: 28/08/2020Pronounced: 28/08/2020

Heard together (2 matters)

I.T.A. No. 640/Del/2016
I.T.A. No. 1393/Del/2016

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

Assessee by: Shri Somil Agarwal, Advocate Department by: Smt. Nidhi Srivastava,CIT-DR Date of Hearing: 28/08/2020 Date of Pronouncement: 28/08/2020 ORDER PER K. NARASIMHA CHARY, JM Challenging the order dated 31/12/2015 passed by the learned Commissioner of Income Tax (Appeals)-25, Delhi (“Ld. CIT(A)”), in the case of M/s frugal developers private limited (“the assessee”) for the assessment year 2011-12, both the assessee and Revenue filed these appeals.

2.

At the outset, Ld. AR submitted that the assessee opted for the settlement of the dispute through the Vivad Se Vishwas Scheme by submitting Forms 1 and 2 and the assessee is waiting the issuance of Form 3 by the authorities. Both the counsel submitted that subject to the issuance of Form 3 by the authorities, these appeals may be dismissed as withdrawn, reserving the right to the parties to seek recall of this order in case of any dispute relating to the issuance of Form No. 3.

3.

Since the assessee had already opted for Vivad se Vishwas Scheme by filing Forms No. 1 and 2 and waiting for issuance of Form No. 3 by the authorities, we are of the considered opinion that these appeals could be dismissed as withdrawn, reserving right to the parties to seek the recall of this order in case of any dispute arising in issuance of Form No. 3.

4.

Both the appeals are accordingly dismissed as withdrawn, as indicated above.

Order pronounced in the Open Court on 28 August, 2020.

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