Diamond Builders Pvt. Ltd., Delhi V. ITO, Ward- 10(3), New Delhi

ITA 2719/DEL/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0733 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 8 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2001-2002
• Appeal Filed On: 29-03-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: M BARANWAL
• Assessee Lawyers: J P SHARMA
• Section: 271(1)(c); 143(3); 22

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH F: NEW DELHI (THROUGH VIDEO CONFERENCING) BEFORE SHRI G.S. PANNU, VICE PRESIDENT AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA NO.2719/DEL/2019 ASSESSMENT YEAR : 2001-02 M/S DIAMOND BUILDERS PVT. LTD., 1/26, GALI NO. 13, VISHWAS NAGAR, DELHI-110032 PAN : AAACD6491R VS. INCOME TAX OFFICER, WARD-10(3), NEW DELHI (APPELLANT) (RESPONDENT) ITA NO.6699/DEL/2019 ASSESSMENT YEAR : 2001-02 M/S DIAMOND BUILDERS PVT. LTD., 1/26, GALI NO. 13, VISHWAS NAGAR, DELHI-110032 PAN : AABCD7000R VS. INCOME TAX OFFICER, WARD-10(3), NEW DELHI (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI. J.P. SHARMA, CA RESPONDENT BY : SHRI. M. BARANWAL, SR. DR DATE OF HEARING : 22.12.2020 DATE OF PRONOUNCEMENT : 22.12.2020 ITA-2719/DEL/2019 ITA-6699/DEL/2019 2 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 ITA NO. 2719/DEL/2019 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 ITA NO. 6699/DEL/2019 IS AN APPEAL RELATING TO LEVY OF PENALTY UNDER SECTION 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 ITA-2719/DEL/2019 ITA-6699/DEL/2019 3 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. ABOVE DECISION WAS ANNOUNCED ON CONCLUSION OF VIRTUAL HEARING IN THE PRESENCE OF BOTH THE PARTIES ON 22 ND DECEMBER, 2020. SD/- SD/- (SUDHANSHU SRIVASTAVA) (G.S. PANNU) JUDICIAL MEMBER VICE PRESIDENT SH COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT BY ORDER ASSISTANT REGISTRAR