ARNAV REALTECH PVT LTD,NEW DELHI vs. ITO WARD - 3(2), NEW DELHI

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ITA 3867/DEL/2019Status: DisposedITAT Delhi09 September 2021AY 2008-093 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 considered the request of the assessee and the submission of the Revenue. The appeal was treated as withdrawn by the assessee.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order concerning assessment year 2008-09. The assessee requested to withdraw the appeal during the virtual hearing.

What were the issues?

The primary issue was the validity of proceedings under Section 147/148 and additions made under Section 68. However, the appeal was withdrawn by the assessee.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 68

AI-generated summary — verify with the full judgment below

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

Before: SMT. DIVA SINGH & SHRI ANADEE NATH MISSHRA

Hearing: 08.09.2021Pronounced: 09.09.2021

ORDER PER DIVA SINGH, J.M. The present appeal has been filed by the assessee challenging the order dated 23.03.2016 of Ld. CIT(Appeals)-32, New Delhi pertaining to 2008-09 assessment year on the following grounds: -

S.No. Grounds of Appeal Tax effect relating to each Ground of appeal

1. On facts and circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in law in upholding the validity of proceedings u/s 147 read with section 148 of the Act.

2. That both the initiation of proceedings and the assessment framed without satisfying the pre-conditions for invoking the provisions of section 148 of the Act is invalid and untenable.

3. Without prejudice to the ground 1 & 2 above, on facts 3,86,250.00 and circumstances of the case, the Ld. CIT(Appeals) has erred in law in upholding the addition of Rs. 12.50 lacs made u/s 68 of the Act on account of share application money received.

4. On the facts and circumstances of the case and in law, 6,953.00 Ld. CIT(Appeals) has erred in confirming the addition of Rs. 22,500/- on account of payment of undisclosed commission.

5. That the appellant craves leave to add, alter or delete the above grounds of appeal at the time of hearing. Total Tax Effect 3,93,203.00

ITA.No.3867/Del./2019 Arnav Realtech Pvt. Ltd.

2.

None appeared on behalf of assessee at the time of virtual hearing. The Registry has received email on behalf of the assessee requesting permission to withdraw the appeal. Same is extracted hereunder: - Ld. Sr. DR Shri R.K. Gupta considering the material available 3. on record submitted that the appeal may be treated as withdrawn.

4.

We have heard the Ld. Sr. DR and perused the material available on record. Considering the submissions in the light of the facts on record the appeal of the assessee is treated as withdrawn. Accordingly, the appeal is dismissed as withdrawn.

5.

However, before parting by way of abundant caution, we deem it appropriate to observe that in case it is found by the assessee that the dispute under the appeal is not fully settled under the Vivad se Vishwas Scheme then the assessee will be at liberty to approach the ITAT with a prayer for restoration of this appeal in accordance with law.

6.

In the result, the appeal is dismissed as withdrawn. Order pronounced in the open Court on 09.09.2021 Sd/- Sd/- (ANADEE NATH MISSHRA) (DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER Delhi.

ITA.No.3867/Del./2019 Arnav Realtech Pvt. Ltd.

*Kavita Arora, SPS Copy to

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