2021 (1) TMI 1109 - AT - Income Tax

Settlement of dispute relating to the tax arrears for the assessment years under consideration under The Direct Tax Vivad se Vishwas Act 2020 - as stated that the necessary declaration in accordance with Section 4 of The Direct Tax Vivad se Vishwas Act 2020 has been filed by the assessee - appeals have been preferred by the assessee against the Separate orders passed by the Learned Commissioner of Income Tax (Appeals)-16 New Delhi CIT(A) for Assessment Years 2008-09 2007-08 - HELD THAT - As aforesaid is subject to a caveat that in case the dispute relating to tax arrears for the captioned assessment years are not ultimately resolved in terms of the aforestated Act the appellant (i.e. the assessee) shall be at liberty to approach the Tribunal for reinstitution of the appeals and the Tribunal shall consider such applications appropriately as per law. The respondent (i.e. the Revenue) has no objection with regard to the aforesaid caveat. In view of the aforesaid the appeals are consigned to the records and for statistical purposes are treated as dismissed.

Summary

Issues:
Settlement of tax arrears under The Direct Tax Vivad se Vishwas Act, 2020 for assessment years 2008-09 & 2007-08.

Analysis:
The appeals were filed by the assessee against separate orders passed by the Commissioner of Income Tax (Appeals) for the assessment years 2008-09 & 2007-08. The authorized representative of the assessee informed the tribunal that the assessee had chosen to resolve the dispute regarding tax arrears for the mentioned assessment years under The Direct Tax Vivad se Vishwas Act, 2020. It was confirmed that the necessary declaration as per Section 4 of the Act had been submitted by the assessee.

The tribunal, in light of the above situation, decided to consign the appeals to records and treat them as dismissed. However, a caveat was added stating that if the dispute concerning tax arrears for the mentioned assessment years is not ultimately resolved under the Act, the assessee would have the liberty to approach the tribunal for reinstatement of the appeals. The tribunal would then consider such applications in accordance with the law. The revenue, representing the respondent, did not object to this caveat.

Therefore, the appeals were officially consigned to records and were considered dismissed for statistical purposes. The decision was made on the conclusion of a virtual hearing held on 11th January 2021.