KOBELCO CONSTRUCTION EQUIPMENT INDIA PVT. LTD.,NOIDA vs. DCIT, NEW DELHI

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ITA 2359/DEL/2015Status: DisposedITAT Delhi04 January 2021AY 2010-113 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 dismissed the appeal as the assessee has opted for settlement under the Vivad Se Vishwas Scheme. The assessee is granted liberty to get the appeal restored if the dispute is not settled under the scheme.

What were the facts?

The assessee filed an appeal against the order passed by the Assessing Officer. The assessee later opted to settle the tax dispute under the "Vivad Se Vishwas Scheme, 2020".

What were the issues?

Whether the appeal should be dismissed due to the assessee opting for settlement under the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘I-2’ : NEW DELHI

Before: SHRI R.K. PANDA & SHRI KULDIP SINGH

For Appellant: Shri Tarandeep Singh, Advocate
For Respondent: Shri Anupam Kant Garg, CIT DR
Hearing: 04.01.2021

PER KULDIP SINGH, JUDICIAL MEMBER : Appellant, M/s. Kobelco Construction Equipment India Private Limited (hereinafter referred to as ‘the assessee’), by filing the present appeal, sought to set aside the impugned order dated 25.02.2015 passed by the Assessing Officer (AO) in consonance with the orders passed by the ld. DRP/TPO under section 143 (3) read with section 144C of the Income-tax Act, 1961 (for short ‘the Act’) qua the assessment year 2010-11.

2.

Ld. Counsel for the assessee filed an application seeking adjournment of the case on the ground 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” and has filed necessary Forms 1 & 2 with the Tax Department.

3.

Keeping in view the aforesaid facts, present appeal is hereby dismissed with liberty to get it restored by the assessee in case dispute is not settled as per scheme. The Revenue has no objection with regard to the aforesaid caveat. Consequently, the present appeal is dismissed. Order pronounced in open court on this 4th day of January, 2021 after the conclusion of the virtual hearing.

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