KAMAL TALREJA,NEW DELHI vs. ITO WARD - 63(1), NEW DELHI

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ITA 4531/DEL/2019Status: DisposedITAT Delhi05 August 2020AY 2010-113 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal disposed of the appeal subject to the issuance of Form No. 3 under the Vivad se Vishwas Scheme. The assessee stated they would withdraw the appeal once Form No. 3 is issued.

What were the facts?

The assessee challenged the initiation of re-assessment proceedings and an addition of Rs. 13,75,489/- for AY 2010-2011. The assessee has filed for the Direct Tax Vivad se Vishwas Scheme.

What were the issues?

Validity of re-assessment proceedings and the subsequent addition. The appeal's disposal is contingent on the Vivad se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCHES “SMC-2” : DELHI

Before: SHRI BHAVNESH SAINI & SHRI O.P. KANT

Hearing: 05.08.2020Pronounced: 05.08.2020

ORDER PER BHAVNESH SAINI, J.M.

This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-38, New Delhi, Dated 18.03.2019, for the A.Y. 2010-2011.

2.

In the present appeal, the assessee challenged the initiation of re-assessment proceedings under section 147 of the I.T. Act, 1961 and addition of Rs.13,75,489/-.

2 ITA.No.4531/Del./2019 Shri Kamal Talreja, Delhi. 3. We have heard the Learned Representatives of both the parties through video conferencing.

4.

The assessee has placed on record letter dated 05.08.2020 submitting therein that assessee has filed Form Nos.1 and 2 under the Direct Tax VIVAD SE VISHWAS Scheme with respect to the present appeal and Form No.3 is awaited. It is, therefore, submitted that once Form No.3 is issued, assessee would be withdraw the present appeal.

4.1. Learned Counsel for the Assessee submitted that the present appeal could be disposed of in terms of the above statement, to which, the Ld. D.R. has no objection.

5.

In view of the above facts and submission of the assessee, it is clear that assessee availed the benefit of Direct Tax VIVAD SE VISHWAS Scheme in respect of the present appeal and Form No.3 is likely to be issued for disposal of the appeal as per Rule. In view of the above, we dispose of the appeal of the assessee, subject to issue of Form No.3 in favour of the assessee. Appeal of the assessee stands disposed of in terms indicated above

3 ITA.No.4531/Del./2019 Shri Kamal Talreja, Delhi. 6. In the result, appeal of the Assessee disposed of.

Order pronounced in the open Court.

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