OMRON AUTOMOTIVE COMPONENTS INDIA PVT. LTD.,GURGAON vs. DCIT, GURGAON

This appeal filed by the assessee is directed against the order dated 18.03.2016 passed by the CIT(A)-1, Gurgaon, for assessment year 2010-11.

The ld. Counsel for the assessee, at the time of hearing, filed an application seeking withdrawal of the appeal filed by the assessee stating that the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration under the Vivad Se Vishwas Scheme, 2020.

Considering the aforesaid situation, the captioned appeal is consigned to records and treated as dismissed.

However, the aforesaid is subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of the aforesaid Scheme, the assessee shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriately as per law. The Revenue has no objection with regard to the aforesaid caveat.

In view of the aforesaid, the appeal is consigned to record and, for statistical purposes, is treated as dismissed. Above decision was announced in the presence of both the sides on conclusion of Virtual Hearing on 21st December, 2020.