M/S. SUBODH FINANCE BROKERS,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, KANPUR

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ITA 581/LKW/2019Status: DisposedITAT Lucknow05 August 2022AY 2014-152 pages
AI SummaryDismissed

What did the Tribunal hold?

The assessee sought to withdraw the appeals as they had opted for the Vivad Se Vishwas Scheme, which resulted in a full and final settlement of tax arrears. The Tribunal permitted the withdrawal.

What were the facts?

The assessee filed appeals against the CIT(A) order for assessment years 2013-14 to 2016-17. The assessee later applied to withdraw these appeals.

What were the issues?

Whether the assessee can withdraw appeals after opting for the Vivad Se Vishwas Scheme for settlement of tax arrears.

Which sections of the Income-tax Act were involved?

Section 5(2),Section 6

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, LUCKNOW BENCH “B”, LUCKNOW

Before: SHRI. A. D. JAIN & SHRI T. S. KAPOOR

For Appellant: Shri Rakesh Garg, Advocate
For Respondent: Smt. Sheela Chopra, CIT (DR)

PER A.D. JAIN, V.P.: These are assessee’s appeals against the consolidated order of the ld. CIT(A)-IV, Kanpur, dated 7.8.2019, for assessment years 2013-14 to 2016-17. 2. Shri Raj Kumar Agarwal, the member of the A.O.P of the assessee, Subodh Finance Brokers has filed identically worded applications, dated 25.3.2021, received by the Registry of this Office on 21.5.2021, vide which it has been submitted that the Pr. Commissioner of Income Tax (Central), Kanpur has issued Certificates in Form No.3, all dated 17.11.2020 for Assessment Years 2013-14, 2013-14, 2014-15 and 2015-16 under the Vivad Se Vishwas Scheme, therefore, the assessee wants to withdraw the appeals. The assessee has also furnished the copies of forms No.5, i.e., the orders of the PCIT, Kanpur for full and final settlement of tax arrears under section 5(2) read with section 6 of the DTVSVA, 2020 for Assessment Years 2013-14, 2013-14, 2014-15 and 2015-16. The Ld. DR has no objection for withdrawal of the appeals. Accordingly, we permit the assessee to withdraw the appeals. 3. In the result, the appeals of the assessee are dismissed as withdrawn. Order pronounced in the open Court on 05/08/2022.

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