S M PILFER PROOF CAPS PVT. LTD.(BRIGHT REALCON PVT LTD MERGED VIDE ORDER OF NCLT),BIJNOR vs. ACIT, (OSD), WARD-5(2), NEW DELHI

That under the facts and circumstances of the case, the reassessment order passed without following the Law of land declared by Hon’ble Page 1 of 4 ITA No.-570/Del/2020 S M Pilfer Proof Caps Pvt. Ltd. Supreme Court of India in case of GKN Driveshaft is invalid and deserves to be quashed.

That the Ld. CIT (Appeals) had not considered the replies filed by assessee and passed the ex parte order against the Principals of Natural Justice.

That under the facts and circumstances of the case, an addition of Rs. 40,00,000/- made by the Ld. AO u/s 68 deserves to be quashed 5. That under the facts and circumstances of the case, an addition of Rs. 80,000/- made by the Ld. AO as unexplained expenditure deserves to be quashed.

That the appellant craves leave to add, amend, alter or withdraw any ground of appeal at the time of hearing with the permission of the Hon’ble ITAT, Delhi Bench.” (B) At the time of hearing, we took notice of letters dated 23/06/2021 and 01/04/2021 sent by Sri Siva Sankaran, Director of the assessee company. In these letters, it has been intimated that the assessee wishes to withdraw the appeal in view of the fact that the appellant (i.e. the assessee) has opted for resolution of the matter under the Direct Tax Vivad Se Vishwas Act, 2021 (“VSVS”, for short). In view of this, the learned Senior Departmental Representative (“Ld. Sr. DR”, for short) submitted before us that this appeal may be treated as withdrawn and may be dismissed on account of the aforesaid VSVS. After due consideration, and in view of the foregoing; we treat this appeal as withdrawn on account of the aforesaid VSVS. Accordingly, this appeal is dismissed, as withdrawn.