DCIT, Circle- 12(1), New Delhi V. IFCI Ltd., New Delhi

ITA 843/DEL/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 2650 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2008-2009
• Appeal Filed On: 02-02-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUNITHA SINGH
• Assessee Lawyers: SHASHANK K SHARMA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: C NEW DELHI BEFORE SHRI R.K.PANDA, ACCOUNTANT MEMBER & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER ITA NO.-843 &1249/DEL/2018 (ASSESSMENT YEAR: 2008-09& 2013-14) DCIT, CIRCLE 12 (1), NEW DELHI. VS. M/S IFCI LTD, IFCA TOWERS, 61, NEHRU PLACE, NEW DELHI-110019. PAN NO. AA A C T0668G APPELLANT RESPONDENT ASSESSEE BY SH. SHASHANK K SHARMA , ADVOCATE REVENUE BY MS SUNITHA SINGH, CIT - DR DATE OF HEARING: 22/2/2021 PRONOUNCEMENT ON 22/2/2021 ORDER PER K. NARASIMHA CHARY, JM THESE APPEALS BY REVENUE IN THE CASE OF IFCI LIMITE D (THE ASSESSEE) FOR ASSESSMENT YEARS 2008-09 AND 2013-14 OR DIRECTED AGAINST THE ORDERS OF LEARNED COMMISSIONER OF INCOME-TAX (A PPEALS)-42, NEW DELHI. 2. LEARNED COUNSEL FOR THE ASSESSEE HAS INTIMATED T HAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE RELATING TO THE TAX ARREARS UNDER THE VIVAD SE VISHWAS ACT, 2020 (IN SHORT THE ACT) FOR THE A SSESSMENT YEARS UNDER CONSIDERATION AND REQUESTED TO TREAT THE APPEALS AS WITHDRAWN. 2 3. CONSIDERING THE AFORESAID SITUATION, THE CAPTION ED APPEALS ARE 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 ASSESSMEN T YEAR IS NOT ULTIMATELY RESOLVED IN TERMS OF THE ACT, THE ASSESSEE SHALL BE AT LIBERTY TO APPROACH THE TRIBUNAL FOR REINSTITUTION OF THE APPEALS AND T HE TRIBUNAL SHALL CONSIDER SUCH APPLICATION APPROPRIATELY AS PER LAW. THE REVE NUE HAS NO OBJECTION WITH REGARD TO THE AFORESAID CAVEAT. 5. IN VIEW OF THE AFORESAID, THE APPEALS ARE CONSIG NED TO RECORD AND, FOR STATISTICAL PURPOSES, ARE TREATED AS DISMISSED. ORDER WAS ANNOUNCED ON CONCLUSION OF VIRTUAL HEARI NG IN THE PRESENCE OF BOTH THE PARTIES ON THIS THE 22/2/2021. SD/- SD/- (R.K.PANDA) (K. NARSIM HA CHARY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 22/02/2021 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT TRUE COPY ASSISTANT REGISTRAR ITAT NEW DELHI