RATNA COMMERCIAL ENTERPRISES P.LTD,NEW DELHI vs. DCIT, CIRCLE- 20(1), NEW DELHI

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ITA 6071/DEL/2017Status: DisposedITAT Delhi24 December 2020AY 2013-143 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 consigned the appeal to records and treated it as dismissed, subject to the condition that if the dispute is not resolved under the Vivad se Vishwas Act, the assessee can seek reinstitution of the appeal.

What were the facts?

The assessee opted to settle tax arrears for AY 2013-14 under The Direct Tax Vivad se Vishwas Act, 2020 and filed the necessary declaration. The appeal was filed against the CIT(A)'s order.

What were the issues?

Whether the appeal should be dismissed in light of the assessee opting for settlement under the Vivad se Vishwas Act, 2020.

Which sections of the Income-tax Act were involved?

Section 4

AI-generated summary — verify with the full judgment below

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

Hearing: 24.12.2020Pronounced: 24.12.2020

PER SUDHANSHU SRIVASTAVA, JM: This appeal is preferred by the assessee against order dated 06.07.2017 passed by the Learned Commissioner of Income Tax (Appeals)-7, New Delhi {CIT(A)} for Assessment Year 2013-14.

Ratna Commercial Enterprise P. Ltd. vs. DCIT 2.0 The Ld. Authorized Representative (AR) submits that the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration under The Direct Tax Vivad se Vishwas Act, 2020. It has been stated that the necessary declaration in accordance with Section 4 of The Direct Tax Vivad se Vishwas Act, 2020 has been filed by the assessee.

3.0 Considering the aforesaid situation, the captioned appeal is consigned to the records and treated as dismissed.

4.0 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 appeal 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.

Ratna Commercial Enterprise P. Ltd. vs. DCIT 5.0 In view of the aforesaid, the appeal is consigned to the records and, for statistical purposes, is treated as dismissed.

Above decision was announced on conclusion of Virtual Hearing on 24 December, 2020.

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