Appeal details
Counselvise Citation
[2021] 109 COUNSELVISE.COM (IT) 2914 (ITAT-DELHI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
11 year(s) 1 month(s) 25 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
23-02-2021
Appeal Filed By
Assessee
Order Result
Dismissed
Bench Allotted
C
Next Hearing Date
20-04-2017
Assessment Year
2003-2004
Appeal Filed On
31-12-2009
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH C NEW DLEHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER ITA NO. 4929/DEL/2009 ASSESSMENT YEAR: 2003-04 IBM DAKSH BUSINESS PROCESS SERVICES (P) LTD., VS. CIT-IV, (EARLIER KNOWN AS DAKSH E-SERVICE PVT. LTD., NEW D ELHI. DLF BUILDING NO. 8, TOWER B, 4 TH FLOOR, DLF CYBER CITY, DLF PHASE-II, GURGAON. PAN : AABCD4187D (APPELLANT) (RESPONDENT) APPELLANT BY : SH. TARANDEEP SINGH, ADV. RESPONDENT BY: MS. SUNITA SINGH, CIT/DR DATE OF HEARING: 23.02.2021 DATE OF ORDER : 23.02.2021 ORDER PER K. NARASIMHA CHARY, J.M. CHALLENGING THE ORDER DATED 28.03.2008 PASSED BY TH E LEARNED COMMISSIONER OF INCOME TAX-IV, NEW DELHI (THE LD. CIT), FOR THE ASSESSMENT YEAR 2003-04, M/S. IBM DAKSH BUSINESS PR OCESS SERVICES (P) LTD.(THE ASSESSEE), PREFERRED THIS APPEAL. 2. BRIEF FACTS ARE THAT SUBSEQUENT TO ASSESSMENT U/ S. 143(3) OF THE INCOME TAX ACT, 1961 (THE ACT) BY ORDER DATED 30. 03.2006 IN THE CASE OF ASSESSEE, M/S. IBM DAKSH BUSINESS PROCESS SERVIC ES (P) LTD. FOR ASSESSMENT YEAR 2003-04, LD. CIT IN EXERCISE OF POW ERS U/S 263 OF THE ACT 2 PASSED THE ORDER DATED 28.03.2008 HOLDING THAT THE FOREIGN EXCHANGE GAIN OF RS.1,22,18,371/- CANNOT BE HELD AS CAPITAL RECEIPTS AND THEREFORE, REVISED THE ORDER DIRECTING THE ASSESSING OFFICER T O DECIDE THE ISSUE AFRESH. PURSUANT TO SUCH ORDER U/S. 263 OF THE ACT , LD. ASSESSING OFFICER PASSED THE ORDER U/S. 143(3) READ WITH SECTION 263 OF THE ACT. ITA NO. 4929/DEL/2009 IS PREFERRED BY THE ASSESSEE AGAINST THE ORDER PASSED U/S. 263 OF THE ACT, WHEREAS ITA NO. 3871/DEL/2019 WAS P REFERRED AGAINST THE ORDER PASSED U/S. 143(3) READ WITH SECTION 263 OF T HE ACT. 3. TODAY, WHEN THIS MATTER WAS CALLED, THE LD. AR S UBMITTED THAT THE ASSESSEE OPTED SETTLEMENT OF THE DISPUTE INVOLVED I N ITA NO. 3871/DEL/2019 WHICH WAS AGAINST THE ORDER PASSED U/ S. 143(3) R.W.S.263 OF THE ACT AND RECORDING THE SAID FACT, A CO-ORDINA TE BENCH OF THIS TRIBUNAL DISMISSED THE APPEAL AS WITHDRAWN BY ORDER DATED 19.02.2021. HE, THEREFORE, SUBMITS THAT IN VIEW OF THE SETTLEME NT OF THE DISPUTE IN ITA NO. 3871/DEL/2019, THE VERY BASIS FOR ITA NO. 4929/ DEL/2009 STANDS DELETED AND THEREFORE, THIS APPEAL HAS BECOME INFRU CTUOUS. IN VIEW OF THIS, LD. DR REPORTS NO OBJECTION. RECORDING THE SA ME, THIS APPEAL IS DISMISSED AS WITHDRAWN. 4. IN THE RESULT, THE APPEAL IS DISMISSED. ORDER WAS ANNOUNCED ON CONCLUSION OF VIRTUAL HEARIN G IN THE PRESENCE OF BOTH THE PARTIES ON THIS THE 23 RD DAY OF FEBRUARY, 2021. SD/- SD/- (R.K. PANDA) (K. NARASIMHA CHARY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 23/02/2021
