Flovel Energy Pvt. Ltd Vs ACIT (ITAT Delhi)
Income Tax Appellate Tribunal (ITAT), Delhi bench, has registered the dismissal of an appeal filed by Flovel Energy Pvt. Ltd. for the assessment year 2017-18. The action was taken by the tribunal after the company informed its decision to opt for settlement of the tax dispute under the Vivad Se Vishwas Scheme, 2024.
The case before the ITAT, listed as ITA No. 4826/Del/2024, originated from the standard income tax assessment process. For the assessment year 2017-18, the tax affairs of Flovel Energy Pvt. Ltd. were scrutinised by the Assessing Officer (AO). This scrutiny culminated in an assessment order passed under Section 143(3) of the Income-tax Act, 1961, dated December 12, 2019. Section 143(3) pertains to the completion of an assessment where a notice has been issued requiring the taxpayer to produce accounts or documents, following which the AO scrutinizes the return of income and evidence provided before making an assessment.
Disagreements with the findings or additions made by the AO in the Section 143(3) order led Flovel Energy Pvt. Ltd. to file an appeal before the first appellate authority. In this instance, the appeal was heard and decided by the National Faceless Appeal Centre (NFAC), Delhi. The NFAC functions as part of the faceless appeal system introduced by the Income Tax Department to conduct appeal proceedings electronically, without physical interaction between the taxpayer and the appellate officer. The NFAC passed its order concerning the taxpayer’s appeal on August 20, 2024.
