DCIT CIRCLE-I (LTU), New Delhi V. Power Finance Corporation Ltd., New Delhi

ITA 2573/DEL/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 8536 (ITAT-DELHI)
• Duration Of Justice: 2 year(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2015-2016
• Appeal Filed On: 25-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A: NEW DELHI (THROUGH VIDEO CONFERENCING) BEFORE SHRI G.S. PANNU, VICE PRESIDENT AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA NO.5596/DEL/2018, A .Y. 2011-12 ACIT (LTU), NEW DELHI VS. M/S. POWER FINANCE CORPORATION LTD., URJANIDHI, 1, BARAKHAMBA LANE NEW DELHI PAN : AAACP1570H (APPELLANT) (RESPONDENT) ITA NO.2571/DEL/2019, A.Y. 2012-13 ITA NO.2572/DEL/2019, A.Y. 2013-14 ITA NO.2573/DEL/2019, A.Y. 2013-14 DCIT, VS. M/S. POWER FINANCE CORPORATION LTD., CIRCLE-1 (LTU) URJANIDHI, 1, BARAKHAMBA LANE NEW DELHI NEW DELHI PAN : AAACP1570H (APPELLANT) (RESPONDENT) ITA NO.1902/DEL/2019, A.Y. 2012-13 ITA NO.1903/DEL/2019, A.Y. 2013-14 ITA NO.1904/DEL/2019, A.Y. 2015-16 ITA-5596 & ORS. 2 POWER FINANCE CORPORATION LTD., VS. ACIT(LTU), URJA NIDHI 1, BARAKHAMBA LANE, CIRCLE- 1, NEW DELHI NEW DELHI PAN : AAACP1570H (APPELLANT) (RESPONDENT) APPELLANT BY : NONE RESPONDENT BY : SH. M. BARANWAL, SR. DR DATE OF HEARING : 25.03.2021 DATE OF PRONOUNCEMENT : 25.03.2021 ORDER PER G.S. PANNU, VP : THESE APPEALS BY THE REVENUE FOR THE ASSESSMENT YEARS 2011-12, 2012- 13, 2013-14 & 2015-16 RESPECTIVELY AGAINST THE ORDER OF LD. C IT(A)-22, NEW DELHI, DATED 28.06.2018, 31.12.2018 AND 22.12.2018 AN D THE APPEALS BY THE ASSESSEE FOR THE ASSESSMENT YEARS 2012-13, 2013-14 & 2015-16 R ESPECTIVELY ARE DIRECTED AGAINST THE ORDER OF LEARNED CIT(A)-22, NEW DELHI, DATED 31.12.2018 AND 22.12.2018. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE AT THE TIME OF VIRTUAL HEARING. THE ASSESSEE, VIDE ITS LETTER HAVE REQUESTED FOR DISMISSAL OF THE APPEALS FILED BY REVENUE AND ASSESSEE STATED THAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE RELATING TO THE TAX ARREARS FOR THE ASSESSMENT YEARS UNDE R CONSIDERATION UNDER THE VIVAD SE VISHWAS SCHEME, 2020. A CERTI FICATE TO THIS ITA-5596 & ORS. 3 EFFECT UNDER SECTION 5(1) OF THE DIRECT TAX VIVAD SE VISHWAS ACT , 2020 HAS ALSO BEEN FILED. 3. LEARNED SENIOR DR HAS NO OBJECTION. 4. IN VIEW OF THE ABOVE, WE ACCEPT THE REQUEST OF THE ASSESSEE FOR DISMISSAL OF THE CAPTIONED APPEALS. 5. IN THE RESULT, THE APPEALS OF THE REVENUE AND ASSESSEE ARE DISMISSED. ABOVE DECISION WAS ANNOUNCED ON CONCLUSION OF VIRTUAL HEARING ON 25 MARCH, 2021. SD/- SD/- (SUDHANSHU SRIVASTAVA) (G.S. PANNU) JUDICIAL MEMBER VICE PRESIDENT *BINITA* COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT BY ORDER ASSISTANT REGISTRAR, ITAT, DELHI