BRR Securities Private Ltd. Vs DCIT (ITAT Delhi)

The Income Tax Appellate Tribunal (ITAT) Delhi dismissed the appeals filed by BRR Securities Private Ltd. for the assessment years 2015-16 and 2016-17 after the company opted for settlement under the Direct Tax Vivad se Vishwas Scheme (DTVSV), 2024. The assessee’s counsel informed the tribunal that Form 1 had been submitted under the scheme, and Form 2 had been issued on 30th November 2024, confirming acceptance of the settlement. Based on this submission, the appeals were withdrawn, and ITAT formally dismissed the case.

The Direct Tax Vivad se Vishwas Scheme was introduced to resolve pending tax disputes efficiently. By opting for this scheme, BRR Securities sought to settle its tax matters without further litigation. ITAT acknowledged the completion of necessary formalities under the scheme and dismissed the appeals accordingly. The order was pronounced in open court on 3rd December 2024, marking the conclusion of the case.

FULL TEXT OF THE ORDER OF ITAT DELHI

These two appeals by assessee have been directed against the orders of Ld. CIT(Appeals)-29, New Delhi dated 22.05.2024 for the assessment years 2015-16 & 2016-17 respectively.

2. Ld. Counsel for Assessee seeks permission to withdraw these appeals as the issues in appeals have been settled under the Direct Tax Vivad se Vishwas Scheme, 2024 and Form no. 1 DTVSV has already been submitted by the assessee under the scheme. It is also submitted that Form II has been issued to the Assessee on 30.11.2024 and a copy shall be placed on record.

3. In view of the above submission of Ld. Counsel and considering the fact that the Assessee had filed Form No.1 DTVSVS to settle the issues under the scheme, the appeals of assessee are dismissed as withdrawn.

Order pronounced in the open court on 03/12/2024