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Facts
The assessee filed an appeal against a CIT(A) order, which arose from an assessment order under Section 143(3) of the Income Tax Act. During the hearing, it was brought to the Tribunal's attention that the core dispute had been resolved between the assessee and the Revenue under the Vivad Se Vishwas Scheme (VSVS), with Form No. 5 issued on 11.06.2024.
Held
As the issue in appeal was settled under the VSVS, rendering the appeal infructuous, both parties agreed to its withdrawal. Consequently, the Tribunal, finding the appeal infructuous, dismissed it.
Key Issues
Whether an appeal before the Tribunal is rendered infructuous and should be dismissed when the underlying tax dispute has been resolved through the Vivad Se Vishwas Scheme (VSVS).
Sections Cited
143(3)
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Income Tax Appellate Tribunal, DELHI BENCHES: G : NEW DELHI
Before: SHRI G.S. PANNU, HON’BLE & SHRI ANUBHAV SHARMA
BEFORE SHRI G.S. PANNU, HON’BLE VICE PRESIDENT AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER Assessment Year: 2011-12 ACIT, Vs Bharat Bhushan Jindal, Circle-36(1), B-159, Gujranwala Town-I, New Delhi. New Delhi. PAN: AAFPJ4279B (Appellant) (Respondent) Assessee by : Shri Suresh Kumar Gupta, CA Revenue by : Shri Om Prakash, Sr. DR Date of Hearing : 05.07.2024 Date of Pronouncement : 05.07.2024 ORDER PER ANUBHAV SHARMA, JM:
This is appeal preferred by the assessee against the order dated 29.01.2016 of the Commissioner of Income Tax (Appeals)-12, New Delhi [hereinafter referred to as ‘the Ld. CIT(A)] arising out of the order dated 21.03.2014 passed u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred as ‘the Act’) by ACIT, Circle-20(1), New Delhi (hereinafter referred to as the Ld. AO).
At the time of hearing, the ld. counsel for the assessee, vide letter dated 01.07.2024 placed on record, submitted that the issue involved in this appeal stood resolved between the assessee and the Revenue in the proceedings under Vivad Se Vishwas Scheme (VSVS) and Form No.5 under VSVS stood issued on 11.06.2024. In view of this, the ld. Counsel submitted that the Revenue may be directed to withdraw the instant appeal since the same had become infructuous.
The ld. DR has no objection in withdrawing its appeal since the issue involved is settled under VSVS.