M/S. VISHWANATH FINCAP (P) LTD.,NEW DELHI vs. DCIT, NEW DELHI

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ITA 2631/DEL/2014Status: DisposedITAT Delhi22 December 2020AY 2004-052 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The Tribunal dismissed the appeal as withdrawn, subject to the condition that if the dispute is not resolved under the VSV scheme, the assessee can seek reinstitution of the appeal. The Revenue did not object to the withdrawal.

What were the facts?

The assessee opted for the Vivad Se Vishwas (VSV) scheme for Assessment Year 2004-05. The assessee filed the necessary declaration and undertaking under the scheme. The assessee requested to withdraw the appeal before the tribunal.

What were the issues?

Whether the appeal can be withdrawn by the assessee due to opting for the Vivad Se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Vivad Se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘SMC-1’, NEW DELHI

Before: SH. ANIL CHATURVEDI

Hearing: 22/12/2020Pronounced: 22/12/2020

ORDER

PER ANIL CHATURVEDI, AM:

1.

This appeal filed by the assessee is directed against the order dated 18.03.2014 of the Commissioner of Income Tax (A)- 19, New Delhi relating to Assessment Year 2004-05.

2.

Before us, assessee has moved an application wherein the assessee has stated that it has opted for Vivad Se Vishwas (VSV) 2020 Scheme and has filed the declaration (Form-1) and undertaking (Form-2) and has not received Form No.3 from the Department. The assessee has requested to allow the withdrawal of appeal. Learned DR has no objection to allow withdrawing the appeal.

3.

After considering the request made by the assessee, we dismiss the appeal of assessee as withdrawn subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of the aforesaid Act, 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. With these directions the appeal of the assessee is dismissed as withdrawn.

In the result, appeal of the assessee is dismissed. 4.

Order pronounced in the open court on 22.12.2020

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