Case Number: ITA 5529/DEL/2019
Appellant: Umesh Yarn Agencies, New Delhi
Respondent: ACIT Circle-47(1), New Delhi
Assessment Year: 2011-12
Result: Appeal Withdrawn
Case Filed on: 2019-06-24
Order Type: Final Tribunal Order
Date of Order: 2021-03-01
Pronounced on: 2021-03-01
The appeal in this case was filed by Umesh Yarn Agencies, located in New Delhi, against the Assistant Commissioner of Income Tax (ACIT), Circle-47(1), New Delhi. The case pertained to the assessment year 2011-12 and was initially filed on 24th June 2019. The dispute arose due to disagreements over the assessment and related tax issues for the specified year.
Umesh Yarn Agencies filed the appeal against the order of the Commissioner of Income Tax (Appeals)-16, New Delhi, dated 24th May 2019. The primary reason for the appeal was to contest the assessment and resolve the tax disputes for the assessment year 2011-12.
The case was heard before the Income Tax Appellate Tribunal (Delhi Bench ‘SMC-2’) in New Delhi, through video conferencing, on 1st March 2021. The bench comprised Sh. N. K. Billaiya, Accountant Member, and Ms. Suchitra Kamble, Judicial Member. The appellant was represented by Sh. Jagdish Aggarwal, CA, while the respondent was represented by Sh. Farhat Khan, Sr. DR.
During the proceedings, the authorized representative for the assessee, Sh. Jagdish Aggarwal, CA, submitted a letter dated 27th January 2021, seeking permission to withdraw the appeal. The withdrawal request was based on the fact that the dispute had been settled under the ‘Vivad Se Vishwas Act, 2020’.
The tribunal, upon noting the contents of the application and the circumstances, allowed the appeal to be withdrawn. The decision was announced in the open court in the presence of both the representatives on 1st March 2021.
“This appeal filed by the assessee is preferred against the order of the CIT(A)-16, New Delhi dated 24.05.2019 for A.Y. 2011-12. Vide letter dated 27.01.2021 the assessee sought permission to withdraw the appeal as the dispute has been settled under the Vivad Se Vishwas Act, 2020. Noting the contents of the application the appeal is dismissed as withdrawn. Decision announced in the open court in the presence of both the representatives on 01.03.2021.”
The case of Umesh Yarn Agencies vs. ACIT Circle-47(1), New Delhi, was concluded with the withdrawal of the appeal due to the settlement of the tax dispute under the Vivad Se Vishwas Scheme, 2020. This outcome demonstrates the effectiveness of the scheme in resolving tax disputes amicably and reducing litigation.
The order was pronounced by the tribunal members, Sh. N. K. Billaiya, Accountant Member, and Ms. Suchitra Kamble, Judicial Member, on 1st March 2021.
Members Present:
SH. N. K. BILLAIYA, ACCOUNTANT MEMBER
MS. SUCHITRA KAMBLE, JUDICIAL MEMBER
Document Reference:
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(A)-16, New Delhi
5. DR: ITAT
ASSISTANT REGISTRAR, ITAT NEW DELHI
Manage the increasing number of hearings effortlessly by leveraging the legal AI revolution We are India's Leading revolutionary AI-powered legal platform where you can get enough insights into top cases and judgements.
Research Platform