GOLDEN TEXO FABS P.LTD,DELHI vs. ACIT, CIRCLE-10(1), NEW DELHI

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ITA 8584/DEL/2019Status: DisposedITAT Delhi17 February 2021AY 2016-172 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 ordered the appeals to be consigned to records and treated as dismissed. However, it allowed the assessee to approach the Tribunal for reinstitution if the dispute is not resolved under the Vivad Se Vishwas Scheme.

What were the facts?

The assessee requested withdrawal of their appeals before the ITAT, stating they had opted to settle tax arrears under the Vivad Se Vishwas Scheme, 2020. The Revenue had no objection to this request.

What were the issues?

Whether the assessee's appeals should be dismissed due to opting for the Vivad Se Vishwas Scheme for dispute resolution.

AI-generated summary — verify with the full judgment below

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

Before: SHRI G.S. PANNU & SHRI K.N.CHARY

Hearing: 17.02.2021Pronounced: 17.02.2021

These appeals by the assessee for the assessment year 2016-17 are directed against the order of learned CIT(A)-4, New Delhi dated 04.09.2019.

2.

None appeared on behalf of the assessee at the time of Virtual hearing before us. The assessee, vide its letter dated 10.02.2021, received through email, has requested for withdrawal of the appeals filed by him and stated that the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration under the ”Vivad Se Vishwas Scheme, 2020”.

3.

Considering the aforesaid situation, the captioned appeals are consigned to records and treated as dismissed.

4.

However, the aforesaid is subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of the aforestated Act, the appellant (i.e., the assessee) shall be at liberty to approach the Tribunal for reinstitution of the appeals and the Tribunal shall consider such application appropriately as per law. The respondent (i.e., the Revenue) has no objection with regard to the aforesaid caveat.

5.

In view of the aforesaid, these appeals are consigned to record and, for statistical purposes, are treated as dismissed.

Above decision was announced on conclusion of Virtual Hearing on 17th February, 2021.

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