ASIS Moulds (India) Pvt. Ltd. 33, Udyog Vihar, Ecotech II, Greater Noida, Gautam Buddha Nagar, UP- 201306 PAN: AADCA2550P
Vs.
DCIT, CIRCLE-3(2), New Delhi
(Appellant)
(Respondent)
Appellant by: None
Respondent by: Sh. M. Baranwal, Sr. DR
Date of hearing: 12.03.2021
Date of pronouncement: 12.03.2021
PER G.S. PANNU, VP:
This appeal by the assessee for the assessment year 2011-12 is directed against the order of learned CIT(A)-01, New Delhi, dated 16.04.2019.
None appeared on behalf of the assessee at the time of virtual hearing. The learned counsel for the assessee, vide its letter dated 24.02.2021, received by hand, has requested for withdrawal of the appeal filed by him and stated that the assessee has opted to settle the dispute relating to the tax arrears for the assessment year under consideration under the Vivad Se Vishwas Scheme, 2020. A certificate to this effect under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020 has also been filed.
Learned Senior DR has no objection.
In view of the above, we accept the request of the assessee for withdrawal of the appeal.
In the result, the appeal of the assessee is dismissed as withdrawn.
Above decision was announced on conclusion of Virtual Hearing on 12th March, 2021.
Sd/-
(K. NARASIMHA CHARY)
JUDICIAL MEMBER
Sd/-
(G.S. PANNU)
VICE PRESIDENT
Copy forwarded to:
By Order
Assistant Registrar, ITAT, Delhi
The case of Asis Moulds India Pvt. Ltd, Greater Noida vs DCIT Circle-3(2), New Delhi (ITA 4878/DEL/2019) pertains to the assessment year 2011-12. The appeal was filed on 29th May 2019, challenging the order of CIT(A)-01, New Delhi. The appellant, Asis Moulds India Pvt. Ltd, sought relief against the tax arrears assessed by the DCIT for the assessment year 2011-12.
However, the appellant decided to resolve the dispute through the Vivad Se Vishwas Scheme, 2020, a government initiative to settle pending tax disputes. This decision was conveyed through a letter dated 24.02.2021, where the appellant’s representative requested the withdrawal of the appeal.
The tribunal, comprising Vice President G.S. Pannu and Judicial Member K. Narasimha Chary, considered the request during a virtual hearing on 12th March 2021. The respondent, represented by Sh. M. Baranwal, Senior DR, raised no objections to the withdrawal request.
Subsequently, the tribunal accepted the appellant’s request for withdrawal and dismissed the appeal as withdrawn. The order was pronounced on the same day.
This case highlights the effectiveness of the Vivad Se Vishwas Scheme in providing an alternative dispute resolution mechanism for taxpayers. By opting for this scheme, Asis Moulds India Pvt. Ltd could settle the tax arrears amicably, avoiding prolonged litigation. The scheme aims to reduce the litigation burden on both taxpayers and the judiciary by offering a simplified settlement process.
In conclusion, the tribunal’s order in ITA 4878/DEL/2019 marks the successful resolution of the tax dispute for AY 2011-12 under the Vivad Se Vishwas Scheme. The dismissal of the appeal signifies the appellant’s acceptance of the scheme’s provisions and the resolution of the tax arrears dispute.
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