K.V.Finlease Pvt. Ltd., New Delhi V. Pr. CIT., New Delhi

ITA 5579/DEL/2018

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 0857 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 9 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-05-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2008-2009
• Appeal Filed On: 27-08-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ANUPAMA SINGLA
• Assessee Lawyers: SUBHAM JAIN
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘C’ NEW DELHI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ITA No.5579/Del/2018 Assessment Year: 2008-09 M/s. K.V. Finlease Pvt. Ltd., 432, Deepali Enclave, Pitampura, New Delhi Vs. Pr. CIT, New Delhi PAN :AABCK9449H (Appellant) (Respondent) ORDER PER SAKTIJIT DEY, JM: This is an appeal by the assessee against order dated 10.07.2018 of learned Principal Commissioner of Income Tax (PCIT)-5, Delhi, passed under section 263 of the Income-tax Act, 1961 (for short ‘the Act’) for the assessment year 2008-09. 2. Learned Authorized Representative of the assessee, on instruction, sought permission to withdraw the present appeal as the assessee has opted to settle the dispute arising in the appeal under the Direct Tax Vivad Se Vishwas Act, 2020. In fact, letter Appellant by Sh. Subham Jain, CA Respondent by Ms. Anupama Singla, Sr. DR Date of hearing 30.05.2022 Date of pronouncement 30.05.2022 ITA No. 5579/Del/2018 AY: 2008-09 2 | P a g e dated 28.05.2022 of the assessee, enclosing declaration filed under Vivad Se Vishwas Scheme and Form 5 issued by the designated authority have been furnished before the Bench. 3. Learned Departmental Representative has no objection to the withdrawal of the appeal by the assessee. 4. Having considered the submissions of the parties, we find that accepting assessee’s declaration under the Direct Tax Vivad Se Vishwas Act, 2020, the designated authority has issued Form 5 on 27 th December, 2021. Thus, for all practical purposes, the dispute arising in the appeal stands settled. That being the factual position emerging on record, we permit the assessee to withdraw the present appeal. Accordingly, appeal is dismissed as withdrawn. 5. In the result, appeal is dismissed. Order pronounced in the open court on 30th May, 2022 Sd/- Sd/- (PRADIP KUMAR KEDIA) (SAKTIJIT DEY) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 30 th May, 2022. RK/- Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi