This case involves the appeal of Riptide Realty P. Ltd. against the orders of CIT(A), New Delhi for the assessment years 2010-11 and 2011-12, under ITA No.1402/Del/2019 and ITA No. 7292/Del/2019, respectively.
Riptide Realty P. Ltd., a company based in New Delhi, appealed against the orders of the learned CIT(A), which were originally dated 10.12.2018 and 09.07.2019. The appeals pertained to tax assessments for two consecutive fiscal years.
The proceedings took place through video conferencing before Shri G.S. Pannu, Vice President, and Shri K.N. Chary, Judicial Member. On the day of the hearing, no representative for the appellant appeared, and the company had sent a communication requesting the withdrawal of the appeals. This decision was in alignment with the company’s choice to settle the disputes under the Vivad Se Vishwas Scheme, 2020, aimed at reducing litigation in direct tax matters.
The Tribunal acknowledged the withdrawal request and dismissed the appeals accordingly. The order emphasized the finality of the decision, made in consideration of the company’s settlement under the specified tax scheme.
This case illustrates the procedural aspects of withdrawing an appeal under the Vivad Se Vishwas Scheme and highlights the Tribunal’s role in facilitating such resolutions. It underscores the importance of alternative dispute resolution mechanisms in the realm of tax law.
Case Summary: Riptide Realty P. Ltd. vs ITO, Ward-21(3), New Delhi – Dismissal of Tax Appeal
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