Panchsheel Securities Pvt. Ltd., New Delhi V. ITO, Ward- 19(3), New Delhi

ITA 1877/DEL/2018

AI Insights

The case involves M/s. Panchsheel Securities Pvt. Ltd., the appellant, who filed an appeal against the order of the Commissioner of Income Tax (Appeals)-XXV, New Delhi, for the Assessment Year 2009-10. The appeal was heard by the Income Tax Appellate Tribunal Delhi, where the appellant submitted an application for withdrawal of the appeal following a settlement under the Direct Tax Vivad Se Vishwas Act, 2020. The Tribunal considered the application and the accompanying Form 1 to 5 documents, leading to the dismissal of the appeal as per the provisions of the Act.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 115647 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 10 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-01-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Next Hearing Date: 31-01-2023
• Assessment Year: 2009-2010
• Appeal Filed On: 15-03-2018
• Laws Referred To: Direct Tax Vivad Se Vishwas Act, 2020
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI (DELHI BENCH ‘F’ : NEW DELHI) BEFORE SH. N.K.BILLAIYA, ACCOUNTANT MEMBER AND Ms. ASTHA CHANDRA, JUDICIAL MEMBER ITA No.1877/Del/2018 (Assessment Year : 2009-10) M/s. Panchsheel Securities Pvt. Ltd. E-1/7, 3 rd Floor, East Patel Nagar, New Delhi- 110008 PAN : AACCP0248C Vs. ITO, Ward-19(3), New Delhi (APPELLANT) (RESPONDENT) Assessee by Shri Pawan Kumar, AR Revenue by Shri Vivek Vardhan, Sr. DR Date of hearing: 01.02.2023 Date of Pronouncement: 01.02.2023 ORDER PER ASTHA CHANDRA, JM: This appeal has been preferred by the assessee against the order dated 13.02.2018 passed by the Ld. Commissioner of Income Tax (Appeals)- XXV, New Delhi pertaining to Assessment Year 2009-10. 2. Heard and perused the record. An application has been filed for withdrawal of the appeal by the assessee, in furtherance of settlement arrived under the Direct Tax Vivad Se Vishwas Act, 2020 (the “Act of 2020”). ITA No. 1877/Del/2018 Panchsheel Securities 2 3. On behalf of the appellant, a copy of Form 1 to 5 under the Act of 2020 has been placed on record. 4. Sub-section (2) of section 4 of the Act of 2020 provides that on issuance of certificate under sub-section (1) of section 5 by the designated authority the appeal pending before this Tribunal shall be deemed to have been withdrawn from the date on which the said certificate is issued. 5. In the light of aforesaid, the appeal in hand stands dismissed. 6. However, 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 Act of 2020, 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. Order pronounced in the open court on 1 st February, 2023. Sd/- sd/- (N.K.BILLAIYA) (ASTHA CHANDRA) ACCOUNTANT MEMBER JUDICIAL MEMBER Date:- 01.02.2023 *Binita, SR.P.S* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI ITA No. 1877/Del/2018 Panchsheel Securities 3 Date of dictation 01.02.2023 Date on which the typed draft is placed before the dictating Member 01.02.2023 Date on which the approved draft comes to the Sr.PS/PS Date on which the fair order is placed before the Dictating Member for Pronouncement Date on which the fair order comes back to the Sr. PS/ PS Date on which the final order is uploaded on the website of ITAT Date on which the file goes to the Bench Clerk Date on which file goes to the Head Clerk. The date on which file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order