Shivangi Portfolio Ltd vs. ACIT Circle-24(1): Appeal Withdrawal Under Vivad Se Vishwas Scheme

Shivangi Portfolio Ltd vs. ACIT Circle-24(1): Appeal Withdrawal Under Vivad Se Vishwas Scheme

Case Number: ITA 5766/DEL/2019

Appellant: Shivangi Portfolio Ltd, New Delhi

Respondent: ACIT Circle-24(1), New Delhi

Assessment Year: 2010-11

Case Filed On: 2019-07-02

Order Type: Final Tribunal Order

Date of Order: 2020-07-24

Pronounced On: 2020-07-24

Conclusion: The appeal filed by Shivangi Portfolio Ltd was withdrawn under the Vivad Se Vishwas Scheme, 2020, and the appeal was dismissed by ITAT Delhi.

Background

The Income Tax Appellate Tribunal (ITAT) Delhi Bench ‘A’, comprising Vice President Shri G.S. Pannu and Judicial Member Shri K. Narasimha Chary, heard the case on 24th July 2020 and pronounced the order on the same day.

The appellant, Shivangi Portfolio Ltd, located at FF-26/124, Sector-7, Rohini, Delhi-110085, filed an appeal against the Assistant Commissioner of Income Tax (ACIT), Circle-24(1), New Delhi, for the assessment year 2010-11. The appellant’s PAN is AABCS5834N.

Contentions

The appeal was directed against the order of learned CIT(A)-XXV, New Delhi dated 24th May 2019. The learned counsel for the assessee, vide email dated 30th June 2020, requested the withdrawal of the appeal filed by the assessee and stated 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.

The learned Senior Departmental Representative (DR) had no objection to the withdrawal request.

Decision

In view of the above, the ITAT accepted the request of the assessee for withdrawal of the appeal. Consequently, the appeal of the assessee was dismissed as withdrawn.

The above decision was announced in the presence of both parties on the conclusion of the Virtual Hearing on 24th July 2020.

Conclusion

The ITAT’s acceptance of the withdrawal request under the Vivad Se Vishwas Scheme, 2020, underscores the Scheme’s role in resolving tax disputes amicably. This case highlights the efficacy of the Scheme in facilitating the settlement of tax arrears and reducing litigation.

Order pronounced in the open court on 24th July 2020.

Sd/- Sd/-
(K. NARASIMHA CHARY) (G.S. PANNU)
JUDICIAL MEMBER VICE PRESIDENT

Date:-24.07.2020

Copy forwarded to:
1. Appellant: M/s Shivangi Portfolio Pvt.Ltd., C/o Shri Kapil Goel, Advocate, FF-26/124, Sector-7, Rohini, Delhi-110085.
2. Respondent: Assistant Commissioner of Income Tax, Circle-24(1), New Delhi.
3. CIT
4. CIT(A)
5. DR: ITAT
ASSISTANT REGISTRAR
ITAT NEW DELHI

Shivangi Portfolio Ltd vs. ACIT Circle-24(1): Appeal Withdrawal Under Vivad Se Vishwas Scheme