Case Number: ITA 417/DEL/2019
Appellant: Rajeev Aggarwal, Ghaziabad
Respondent: ACIT, Circle-2, Ghaziabad
Assessment Year: 2015-16
Case Filed On: 2019-01-21
Order Type: Final Tribunal Order
Date of Order: 2022-05-17
Pronounced On: 2022-05-17
Rajeev Aggarwal, a resident of Ghaziabad, filed an appeal against the order dated 24.10.2018 of the Learned Commissioner of Income Tax (Appeals), Ghaziabad [“Ld. CIT(A)”], pertaining to the assessment year 2015-16. The primary issue in the appeal was the addition of Rs.78,20,321/- on account of unexplained credit under Section 68 of the Income Tax Act, 1961, and an additional Rs.2,34,610/- as commission paid.
The case was heard by the Delhi Bench “F” of the Income Tax Appellate Tribunal (ITAT), presided over by Shri Saktijit Dey, Judicial Member, and Shri Anadee Nath Misshra, Accountant Member. The appellant was not represented at the hearing, while the respondent was represented by Shri Ramdhan Meena, Senior Departmental Representative (Sr. DR).
The appellant’s grounds of appeal included several key points:
During the hearing, it was noted that the appellant had submitted an application for settlement of the dispute under the Vivad Se Vishwas Scheme (VSVS). A Form-5 had already been issued by the Income Tax Department, indicating acceptance of the settlement application.
Given this development, the learned Senior Departmental Representative submitted that the appeal be treated as withdrawn and dismissed accordingly. The Tribunal, after considering the circumstances, agreed to treat the appeal as withdrawn due to the VSVS settlement.
The Tribunal also clarified that if, for any reason, the dispute was not settled under the VSVS, the appellant would have the liberty to approach the ITAT for restoration of the appeal in accordance with the law.
In conclusion, the appeal filed by Rajeev Aggarwal was dismissed as withdrawn due to the settlement under the Vivad Se Vishwas Scheme. The order was pronounced in the open court on 17th May, 2022, in the presence of the CIT(DR) for the Revenue.
Members of the Tribunal:
Shri Saktijit Dey, Judicial Member
Shri Anadee Nath Misshra, Accountant Member
For more information on similar cases and legal precedents, visit the official website of the Income Tax Appellate Tribunal of India.
Rajeev Aggarwal vs ACIT: Dispute Over Unexplained Credit and Investment – ITA 417/DEL/2019
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