POSCO ENGINEERING & CONSTRUCTION INDIA PVT. LTD., GURGAON V. DCIT, CIRCLE- 3, GURGAON

ITA 7394/DEL/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 8814 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 1 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-01-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: I
• Assessment Year: 2012-2013
• Appeal Filed On: 08-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: M BARNWAL
• Assessee Lawyers: SHUBHANGI ARORA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH I-2 NEW DLEHI BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER ITA NO.7394/DEL/2017 ASSESSMENT YEAR: 2012-13 POSCO ENGINEERING & CONSTRUCTION VS. DCIT, CIRCLE- 3, PVT. LTD., FLOOR PARK, CENTRAL BUILDING, GURGAON. TOWER B, 32 ND MILESTONE, NH-8, SECTOR-30, GURGAON. PAN : AAACR3007K (APPELLANT) (RESPONDENT) ASSESSEE BY : MS. SHUBHANGI ARORA, ADV. REVENUE BY : SH. M. BARNWAL, SR. DR DATE OF HEARING: 12/01/2021 DATE OF ORDER : 12/01/2021 ORDER PER ANIL CHATURVEDI, AM: THIS APPEAL IS FILED BY THE ASSESSEE BEING AGGRIEV ED BY THE ASSESSMENT ORDER DATED 13.10.2017 FOR ASSESSMENT YE AR 2012-13, PURSUANT TO THE DIRECTIONS DATED 02.09.2017 OF THE DISPUTE RESOLUTION PANEL -I, NEW DELHI (LD. DRP). 2. LEARNED COUNSEL FOR THE ASSESSEE, VIDE LETTER DA TED 11 TH JANUARY, 2021, HAS INTIMATED THAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE RELATING TO THE TAX ARREARS UNDER THE VIVAD SE VISH WAS ACT, 2020 (IN SHORT 2 THE ACT) FOR THE ASSESSMENT YEAR UNDER CONSIDERAT ION AND REQUESTED FOR WITHDRAWAL THE SAID APPEAL. 3. CONSIDERING THE AFORESAID SITUATION, THE CAPTION ED APPEAL IS 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 A SSESSMENT YEAR IS NOT ULTIMATELY RESOLVED IN TERMS OF THE ACT, THE ASSESS EE SHALL BE AT LIBERTY TO APPROACH THE TRIBUNAL FOR REINSTITUTION OF THE APPE AL AND THE TRIBUNAL SHALL CONSIDER SUCH APPLICATION APPROPRIATELY AS PE R LAW. THE REVENUE HAS NO OBJECTION WITH REGARD TO THE AFORESAID CAVEAT. 5. IN VIEW OF THE AFORESAID, THE APPEAL IS CONSIGNE D TO RECORD AND, FOR STATISTICAL PURPOSES, IS TREATED AS DISMISSED. ORDER WAS ANNOUNCED ON CONCLUSION OF VIRTUAL HEAR ING IN THE PRESENCE OF BOTH THE PARTIES ON 12 TH JANUARY, 2021. SD/- SD/- (K. NARASIMHA CHARY) (ANIL CHATURVEDI) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 12/01/2021 AKS