DIAMOND BUILDERS PVT. LTD.,DELHI vs. ITO, WARD- 10(3), NEW DELHI

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ITA 6699/DEL/2019Status: DisposedITAT Delhi22 December 2020AY 2001-023 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 noted the assessee's decision to settle under the Vivad Se Vishwas Act and, with the Revenue's no objection, consigned the appeals to records, treating them as dismissed. However, a caveat was provided for reinstitution if the settlement was not resolved.

What were the facts?

The assessee's appeals for assessment year 2001-02 were directed against additions made and penalty levied. The assessee informed the Tribunal that they had opted to settle the tax arrears under the Vivad Se Vishwas Act, 2020.

What were the issues?

The primary issue was the pending appeal against tax additions and penalty, which was rendered moot by the assessee's decision to avail the Vivad Se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 271(1)(c)

AI-generated summary — verify with the full judgment below

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

Before: SHRI G.S. PANNU & SHRI SUDHANSHU SRIVASTAVA

For Appellant: Shri. J.P. Sharma, CA
For Respondent: Shri. M. Baranwal, Sr. DR
Hearing: 22.12.2020Pronounced: 22.12.2020

2 ITA-2719/Del/2019 ITA-6699/Del/2019 ORDER PER G.S. PANNU, VP : These appeals by the assessee for the assessment year 2001-02 is directed against the orders of learned CIT(A), Delhi dated 24.01.2019 and 28.06.2019 respectively. The appeal in is on account of dispute regarding the quantum addition in the assessment made under section 143(3) r.w.s. 147 of the Act and 271(1)(c) of the Act corresponding to the assessment made under section 143(3) r.w.s. 147 of the Act.

2.

The learned counsel for the assessee, vide its letter dated 18.12.2020, has intimated the Tribunal that the assessee has opted to settled the dispute relating to the tax arrears for the assessment year under consideration under the Vivad Se Vishwas Act, 2020 (in short ‘the Act’) and requested for withdrawal of the said appeal.

3.

Considering the aforesaid situation, the captioned appeal is consigned to records and treated as dismissed. 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 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 3 ITA-2719/Del/2019 ITA-6699/Del/2019 respondent (i.e., 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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