M/S. BASIC DEVELOPERS PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

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ITA 2748/DEL/2015Status: DisposedITAT Delhi08 February 2021AY 2006-073 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 allowed the withdrawal of the appeal, subject to the condition that if the dispute is not resolved under the scheme, the assessee can seek reinstitution of the appeal.

What were the facts?

The assessee sought withdrawal of their appeal before the ITAT. This was due to opting for the Vivad Se Vishwas Scheme, 2020, to settle tax arrears for the assessment year 2006-07.

What were the issues?

The primary issue was whether the assessee's appeal should be withdrawn due to opting for a settlement scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH : B : NEW DELHI

Before: SHRI R.K. PANDA & MS SUCHITRA KAMBLE

For Appellant: Shri T.R. Talwar, Advocate
For Respondent: Shri Jagdish Singh, Sr. DR
Hearing: 08.02.2021Pronounced: 08.02.2021

ORDER

PER R.K. PANDA, AM:

1.

This appeal filed by the assessee is directed against the order dated 11th February, 2015 of the CIT(A)-2, New Delhi, relating to the assessment year 2006- 07.

2.

The ld. Counsel for the assessee, at the time of hearing, sought withdrawal of the appeal filed by the assessee stating 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. However, Form No.3 is yet to be obtained. He accordingly submitted that this appeal may be allowed to be withdrawn.

3.

In absence of any objection from the side of the ld. DR, the request of the assessee for withdrawal of the appeal is allowed.

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 aforesaid Scheme, the assessee shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriately as per law. The Revenue has no objection with regard to the aforesaid caveat.

5.

In view of the aforesaid, the appeal is consigned to record and, for statistical purposes, is treated as dismissed.

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