KARVY INNOTECH LTD,NEW DELHI V. ACIT, CIRCLE-14(1), NEW DELHI

ITA 7639/DEL/2019

AI Insights

The case involves multiple appeals by Karvy Innotech Ltd against the orders of the Assessing Officer for the assessment years 2015-16 and 2016-17. The appeals were filed in response to certain tax assessments made by the A.C.I.T Circle \\u2013 14(1), New Delhi. However, the assessee opted to withdraw these appeals after deciding to settle the disputes under the Vivad se Vishwas Scheme, 2024, a government initiative aimed at resolving pending tax disputes. The tribunal did not object to the withdrawal and allowed the possibility of reviving the appeals if the settlement under the scheme was unsuccessful.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 711360 (ITAT-DELHI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-07-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Assessment Year: 2016-2017
• Laws Referred To: Vivad se Vishwas Scheme, 2024
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ASSESSEE; MONICA SINGH
• Assessee Lawyers: ADITI GUPTA

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘F’ BENCH, NEW DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER Sl. No ITA/CO No(s) Asst. Year(s) Appeal(s) by Appellant Respondent 1. ITA No. 7638/Del/2019 2015-16 Karvy Innotech Ltd Flat No. 502 & 503, 5th Floor, Arunachal Building, 19, Barakhamba Road New Delhi PAN No.AADCH 0303 D The A.C.I.T Circle – 14(1), New Delhi 2. ITA No. 7639/Del/2019 2016-17 -do- -do- 3. ITA No. 7853/Del/2019 2015-16 The A.C.I.T Circle – 14(1), New Delhi Karvy Innotech Ltd Flat No. 502 & 503, 5th Floor, Arunachal Building, 19, Barakhamba Road New Delhi PAN No. AADCH 0303 D 4. ITA No. 7654/Del/2019 2016-17 -do- -do- Assessee By : Ms. Aditi Gupta, Adv Shri Abdvuah Mustaqueem, Adv Department By : Ms. Monica Singh, CIT-DR Date of Hearing : 24.07.2025 Date of Pronouncement : 24.07.2025 Printed from counselvise.com 2 ITA Nos. 7638, 7639, 7853 and 7854/DEL/2019 M/s Karvy Innotech Ltd [A.Ys 2015-16 and 2016-17] ORDER PER BENCH;- The above captioned appeals by assessee and cross appeals by the revenue are directed against the order of Assessing Officer for A.Ys 2015- 16 and 2016-17 respectively. 2. The assessee has filed application for withdrawal of its appeals as the assessee has opted to settle the issues under the Vivad se Vishwas Scheme, 2024 [in short ‘VSVS’]. The assessee has placed on record copy of Form No. I and 2 filed under VSVS, 2024. The ld. counsel for assessee prayed for liberty to revive appeals in case applications of assessee fail to mature for any reason under Vivad se Vishwas Scheme, 2024. 3. The ld. DR raised no objection to withdrawal of appeals by the assessees. 4. Both sides heard. In light of application made by the assessee, appeals of assessee and Revenue are dismissed as withdrawn as assessees have opted to settle the issue under Vivad se Vishwas Scheme. Liberty is granted to assessee to revive the appeals in case application of assessee under Vivad se Vishwas Scheme, 2024 fails to mature. Printed from counselvise.com 3 ITA Nos. 7638, 7639, 7853 and 7854/DEL/2019 M/s Karvy Innotech Ltd [A.Ys 2015-16 and 2016-17] 5. In the result, appeals of assessees in ITA Nos. 7638, 7639/DEL/2019 and appeals of the Revenue in ITA Nos 7853 and 7854/DEL/2019 are dismissed as withdrawn. The order is pronounced in the open court on 24.07.2025. Sd/- Sd/- [ANUBHAV SHARMA] [AMITABH SHUKLA] JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 24TH JULY, 2025. VL/ Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi Printed from counselvise.com 4 ITA Nos. 7638, 7639, 7853 and 7854/DEL/2019 M/s Karvy Innotech Ltd [A.Ys 2015-16 and 2016-17] Sl No. PARTICULARS DATES 1. Date of dictation of Tribunal Order 2. Date on which the typed draft Tribunal Order is placed before the Dictation Member 3. Date on which the typed draft Tribunal Order is placed before the other Member 4. Date on which the approved draft Tribunal Order comes to the Sr. P.S./P.S. 5. Date on which the fair Tribunal Order is placed before the Dictating Member for pronouncement 6. Date on which the signed order comes back to the Sr. P.S./P.S 7. Date on which the final Tribunal Order is uploaded by the Sr. P.S./P.S. on official website 8. Date on which the file goes to the Bench Clerk alongwith Tribunal Order 9. Date of killing off the disposed of files on the judiSIS portal of ITAT by the Bench Clerks 10. Date on which the file goes to the Supervisor (Judicial) 11. The date on which the file goes for xerox 12. The date on which the file goes for endorsement 13. The date on which the file goes to the Superintendent for checking 14. The date on which the file goes to the Assistant Registrar for signature on the Tribunal order 15. Date on which the file goes to the dispatch section 16. Date of Dispatch of the Order Printed from counselvise.com "