(Through Video Conferencing)
BEFORE SHRI G.S. PANNU, VICE PRESIDENT AND SMT. MADHUMITA ROY, JUDICIAL MEMBER
Sh. Banwari Lal Sharma,
C-9/32, Sector-7, Rohini, New Delhi
PAN: ABCPS1245G
vs.
Dy. CIT, Circle-62(1), New Delhi
(Appellant) (Respondent)
Appellant by: None
Respondent by: Shri M. Baranwal, Sr. DR
Date of hearing: 26.11.2020
Date of pronouncement: 26.11.2020
PER G.S. PANNU, VP:
This appeal by the assessee for the assessment year 2015-16 is directed against the order of learned CIT(A), Delhi dated 18.03.2019.
The assessee, Sh. Banwari Lal Sharma, filed his return of income for the assessment year 2015-16 declaring a total income of Rs. X,XXX,XXX/-. The assessment was completed under section 143(3) of the Income Tax Act, 1961, by the DCIT, Circle-62(1), New Delhi, determining the total income at Rs. Y,YYY,YYY/- after making various disallowances and additions.
The assessee, aggrieved by the assessment order, filed an appeal before the CIT(A). The CIT(A) upheld the additions made by the Assessing Officer, leading to the filing of the present appeal before the Income Tax Appellate Tribunal (ITAT).
The grounds of appeal raised by the assessee are as follows:
The assessee, vide his letter dated 25.11.2020, received through email, requested for withdrawal of the appeal filed by him. The reason cited for withdrawal was that the assessee had 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, was also filed.
Learned Senior DR, Shri M. Baranwal, had no objection to the request for withdrawal made by the assessee.
We have considered the request of the assessee and the no objection from the learned Senior DR. The Vivad Se Vishwas Scheme, 2020, is a beneficial scheme introduced by the Government of India to reduce litigation and bring about speedy resolution of disputes related to direct taxes. The scheme allows taxpayers to settle their disputes by paying the disputed tax and obtaining immunity from interest, penalty, and prosecution.
In the present case, the assessee has opted for the scheme and obtained the necessary certificate under Section 5(1) of the Act. Therefore, we see no reason to deny the request for withdrawal of the appeal.
In view of the above, we accept the request of the assessee for withdrawal of the appeal. Accordingly, the appeal of the assessee is dismissed as withdrawn.
In the result, the appeal of the assessee is dismissed as withdrawn.
Order pronounced in the open Court on conclusion of Virtual Hearing on 26th November, 2020.
BY ORDER
Assistant Registrar, ITAT, Delhi Benches, Delhi.
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