Ram Nivas Gupta, New Delhi V. ACIT, Circle-50(1), New Delhi

ITA 5570/DEL/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 8738 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 11 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-06-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2013-2014
• Appeal Filed On: 25-06-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: LAKSHAY GO Y A L
• Keywords: Depreciation; Opportunity of being heard; Notional interest

Judgement Text

1 ITA no. 5570/Del/2019 Ram Niwas Gupta Vs. ACIT IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F”: NEW DELHI BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ITA No. _5570/DEL/2019 [Assessment Year: 2013-14 Ram Niwas Gupta, Z-115/1, Loha Mandi, Naraina, New Delhi-110028. PAN- AABPN4693B Vs ACIT, Circle-50(1), New Delhi. APPELLANT RESPONDENT Appellant by Sh. Lakshay Goyal, Adv. Respondent by Sh. T. Kipgen, CIT DR Date of hearing 09.06.2022 Date of pronouncement 10.06.2022 O R D E R PER KUL BHARAT, JM: This appeal, by the assessee, is directed against the order of the learned Commissioner of Income-tax(Appeals)-17, New Delhi, dated 29.05.2019, pertaining to the assessment year 2013-14. The assessee has raised following grounds of appeal: 2 ITA no. 5570/Del/2019 Ram Niwas Gupta Vs. ACIT “1. The order passed by the Ld. CIT(A)is bad in law and against the facts of the case. 2. The Ld. CIT(A) is totally unjustified in dismissing the appeal of the assessee without giving proper opportunity of being heard. 3. The Ld. CIT(A) is totally unjustified in sustaining the following additions made by the Ld. AO. :- a) Addition on a/c of notional interest to the tune of Rs. 10,28,803/-. b) Addition on a/c of income from house property of Rs. 1,938/- c) Addition on a/c of various expenses for Rs. 70,545/- @ 10%. d) Addition on a/c of depreciation on car Rs. 35,900/- 4. That the appellant craves leave to add, amend or alter any of the grounds of appeal.” 2. The learned counsel for the assessee has moved an application seeking permission for withdrawal of the appeal. He submitted that for the assessment year in question i.e. A.Y. 2013-14, the assessee has settled the issue in VIVAD SE VISHWAS SCHEME, 2020 and requested that the assessee may be permitted to withdraw its appeal. A copy of Form-5, for full and final settlement of tax arrears under the aforesaid scheme has also been filed. 3. The learned DR has no objection to the request so made on behalf of the assessee. 3 ITA no. 5570/Del/2019 Ram Niwas Gupta Vs. ACIT 4. In view of above and in absence of any objection from the side of the Ld. D.R, the request of the assessee seeking for withdrawal of the appeal is allowed. 5. In the result, appeal of the assessee is dismissed as withdrawn. Order pronounced in open court on 10 th June, 2022. Sd/- Sd/- (PRADIP KUMAR KEDIA) (KUL BHARAT) ACCOUNTANT MEMBER JUDICIAL MEMBER *MP* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI