CADENCE AMS DESIGNS INDIA PVT. LTD.,NOIDA vs. DCIT, NEW DELHI

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ITA 3776/DEL/2017Status: DisposedITAT Delhi07 April 2021AY 2012-133 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The Tribunal dismissed the appeals as withdrawn by the assessee due to their settlement under the Vivad Se Vishwas Scheme. The assessee was granted liberty to seek restoration if the dispute was not settled as per the scheme.

What were the facts?

The assessee filed appeals against the impugned orders for assessment years 2013-14 and 2012-13. The assessee subsequently opted to settle the tax arrears under the "Vivad Se Vishwas Scheme, 2020".

What were the issues?

The primary issue was the withdrawal of appeals by the assessee due to opting for the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘D’ : NEW DELHI

Before: SHRI ANIL CHATURVEDI & SHRI KULDIP SINGH

For Appellant: Shri Ameya Dadhich, CA
For Respondent: Dr. Shiv Swaroop Singh, Senior DR
Hearing: 07.04.2021

Date of Hearing : 07.04.2021 Date of Order : 07.04.2021 O R D E R PER BENCH : Appellant, M/s. Cadence Design Systems (India) Pvt. Ltd., (hereinafter referred to as ‘the assessee’), by filing the present appeals, sought to set aside the impugned orders both dated Bengaluru-2, Bengaluru qua the assessment year 2013-14.

2.

Ld. Counsel for the assessee filed an application seeking withdrawal of the appeals 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, which was accepted and processed vide Form 3 issued by the Tax Department.

3.

Keeping in view the aforesaid facts, present appeals are 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 appeals are dismissed. Order pronounced in open court on this 7th day of April, 2021 after the conclusion of the virtual hearing.

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