WELDON POLYMERS PRIVATE LIMITED,NEW DELHI vs. ACIT, CENTRAL CIRCLE-20, NEW DELHI

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ITA 841/DEL/2020Status: DisposedITAT Delhi19 December 2024AY 2010-11Bench: SHRI PRADIP KUMAR KEDIA (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)2 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The Tribunal dismissed the appeal as withdrawn, acknowledging the assessee's choice to pursue the DTVSV Scheme. It was further held that if the assessee, for any bona fide reasons, fails to avail the benefits of the VSV Scheme, they shall have the liberty to seek restoration of the original appeal for a hearing before the ITAT in accordance with law.

What were the facts?

The assessee filed an appeal against the Ld. CIT(A)'s order for the assessment year 2010-11, which originated from an assessment order passed under sections 147/143(3)/250(6) of the Income Tax Act, 1961. During the hearing, the assessee's counsel informed the Tribunal of the client's decision to opt for 'The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024' and requested to withdraw the appeal. The Ld. Sr. DR for the Revenue did not object to the withdrawal.

What were the issues?

Whether the appeal should be dismissed based on the assessee's election to opt for the Direct Tax Vivad Se Vishwas Scheme, and what provisions exist for its restoration if the scheme's benefits are not availed for bona fide reasons.

Which sections of the Income-tax Act were involved?

Section 147,Section 143(3),Section 250(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI “F” BENCH: NEW DELHI

Before: SHRI PRADIP KUMAR KEDIA & SHRI VIMAL KUMAR

For Appellant: Shri Tarun Chanana, Adv. &, Ms. Ananya Kapoor, Adv
For Respondent: Ms. Harpreet Kaun Hansra, Sr.DR
Hearing: 19.12.2024Pronounced: 19.12.2024
1.

The instant appeal has been filed at the instance of the assessee seeking to assail the First Appellate order dated 06.12.2019 passed by Ld. Commissioner of Income Tax (A)-27, New Delhi [“Ld.CIT(A)”] arising from the assessment order dated 28.09.2017 passed u/s 147/143(3) u/s 250(6) of the Income Tax Act, 1961 [“the Act”] pertaining to assessment year 2010-11.

2.

When the matter was called for hearing, the Ld. Counsel for the assessee submitted that as per the instruction of the client, the assessee is opting for the ongoing “The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024”. The Ld. Counsel thus submitted that the assessee does not seek to pursue the said appeal owing to exercise of option for availing DTVSV Scheme and consequently requested that the written application for withdrawal of appeal may please be granted.

3.

The Ld. Sr. DR for the Revenue stated that she has no objection to withdraw the appeal as sought on behalf of the assessee.

Weldon Polymers Pvt.Ltd.vs ACIT 4. In the light of oral/written request made on behalf of the assessee, the captioned appeal is dismissed. However, in the event, the assessee fails to avail the benefit of VSV Scheme for any bonafide reasons, then the assessee concerned shall be at liberty to seek restoration of original appeal for hearing before ITAT in accordance with law.

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