DCIT, Circle-25(1), New Delhi V. The State Trading Corporation of India Ltd., New Delhi

ITA 7982/DEL/2019

AI Insights

The case involves an appeal by the Revenue against the appellate order passed by the Commissioner of Income Tax (Appeals)-9, New Delhi, concerning the assessment year 2012-13. The appeal was related to the State Trading Corporation of India Ltd. The Assessee filed an application for withdrawal of the appeal, citing a settlement under the Direct Tax Vivad Se Vishwas Act, 2020. The Tribunal acknowledged the withdrawal application and dismissed the appeal, with a provision allowing the Revenue to reinstate the appeal if the tax dispute is not resolved as per the Act of 2020.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 115669 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-02-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 22-06-2022
• Assessment Year: 2012-2013
• Appeal Filed On: 30-09-2019
• Laws Referred To: Income Tax Act, 1961, Direct Tax Vivad Se Vishwas Act, 2020
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI (DELHI BENCH ‘H’ : NEW DELHI) BEFORE SH. G.S.PANNU, HON’BLE PRESIDENT AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.7982/Del/2019 (Assessment Year: 2012-13) DCIT, Circle-25(1), New Delhi Vs. M/s. The State Trading Corporation India Ltd, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi PAN: AAACT0102F (APPELLANT) (RESPONDENT) Assessee by None Revenue by Shri Sanjay Kumar, Sr. DR Date of hearing: 27.01.2023 Date of Pronouncement: 13.02.2023 ORDER PER ANUBHAV SHARMA, JM: This appeal has been preferred by the Revenue against the appellate order dated 16.07.2019 u/s 250(6) of the Income Tax Act, 1961 (hereinafter referred to as "The Act") passed by Commissioner of Income Tax (Appeals)- 9, New Delhi being appeal no. 10046/19-20. 2. Heard and perused the record. An application has been filed for withdrawal of the appeal by the Assessee, in furtherance of settlement arrived under The Direct Tax Vivad Se Vishwas Act, 2020 (The Act of 2020). ITA No.7982/Del/2019 M/s. The State Trading Corporation India Ltd 2 3. On behalf of the Assessee, Form 5 under the Act of 2020 has been placed on record. 4. The sub section (2) of section of the Act 2020 provides that on issuance of certificate under sub section (1) of section 5 by the designated authority the appeal pending before this tribunal shall be deemed to have been withdrawn from the date on which the said certificate is issued. 5. In the light of aforesaid, the appeal in hand stands dismissed. 6. However, subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment year is not ultimately resolved in terms of The Act of 2020, the Revenue shall be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application, appropriately as per law. Order pronounced in the open court on 13.02.2023. -Sd/- -Sd/- (G.S.PANNU) (ANUBHAV SHARMA) PRESIDENT JUDICIAL MEMBER Date:13.02.2023 *Binita, SR.P.S* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI