M/s IFFCO Tokio General Insurance Co. Ltd., Gurgaon V. DCIT, New Delhi

ITA 2994/DEL/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 4243 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 8 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 12-05-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: SUMITKHADARIA
• Section: 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: C NEW DELHI BEFORE SHRI G.S. PANNU, HONBLE VICE PRESIDENT & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER ITA NO.- 2994 /DEL/2017 (ASSESSMENT YEAR: 2007-08) IFFCO TOKIO GEN INSURANCE COMPANY LIMITED, 4 TH AND 5 TH FLOOR, IFFCO TOWER, PLOT NO. 3, SECTOR-29, GURGAON VS. DCIT, CIRCLE-12 (1) DELHI. PAN NO. AAACI 7573H APPELLANT RESPONDENT ASSESSEE BY SH. SUMITKHADARIA, ADVOCATE REVENUE BY MS RAKHI VIMAL, SR. DR DATE OF HEARING: 11/2/2021 PRONOUNCEMENT ON 11/2/2021 ORDER PER K. NARASIMHA CHARY, JM THIS APPEAL BY IFFCO TOKIO GEN INSURANCE COMPANY LI MITED(THE ASSESSEE) FOR ASSESSMENT YEAR 2007-08 IS DIRECTED A GAINST THE ORDERS OF LEARNED COMMISSIONER OF INCOME-TAX (APPEALS)-44, NE W DELHI (LD. CIT(A)). 2. LEARNED COUNSEL FOR THE ASSESSEE HAS INTIMATED T HAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE RELATING TO THE TAX ARREARS UNDER THE VIVAD 2 SE VISHWAS ACT, 2020 (IN SHORT THE ACT) FOR THE A SSESSMENT YEARS UNDER CONSIDERATION AND REQUESTED FOR WITHDRAWAL THE SAID APPEALS. 3. CONSIDERING THE AFORESAID SITUATION, THE CAPTION ED APPEALS ARE CONSIGNED TO RECORDS AND TREATED AS DISMISSED. 4. HOWEVER, THE AFORESAID IS SUBJECT TO A CAVEAT TH AT IN CASE THE DISPUTE RELATING TO TAX ARREARS FOR THE CAPTIONED ASSESSMEN T YEARS IS NOT ULTIMATELY RESOLVED IN TERMS OF THE ACT, THE ASSESSEE SHALL BE AT LIBERTY TO APPROACH THE TRIBUNAL FOR REINSTITUTION OF THE APPEALS AND T HE TRIBUNAL SHALL CONSIDER SUCH APPLICATION APPROPRIATELY AS PER LAW. THE REVE NUE HAS NO OBJECTION WITH REGARD TO THE AFORESAID CAVEAT. 5. IN VIEW OF THE AFORESAID, BOTH THE APPEALS ARE C ONSIGNED TO RECORD AND, FOR STATISTICAL PURPOSES, ARE TREATED AS DISMI SSED. ORDER WAS ANNOUNCED ON CONCLUSION OF VIRTUAL HEARI NG IN THE PRESENCE OF BOTH THE PARTIES ON THIS THE 11 TH DAY OF FEBRUARY, 2021. SD/- SD/- (G.S. PANNU) (K. NARSIMHA CHARY) VICE PRESIDENT JUDICIAL MEMBER DATED: 11/2/2021