DCIT Vs Danfoss Power Solutions India Pvt. Ltd. (ITAT Pune)
Income Tax Appellate Tribunal (ITAT) Pune dismissed the appeal filed by the Deputy Commissioner of Income Tax (DCIT) against Danfoss Power Solutions India Pvt. Ltd. The appeal was related to the assessment year 2007-08, and it originated from the order of the Commissioner of Income Tax (Appeals)-38, New Delhi, dated September 21, 2017. However, during the proceedings, Danfoss Power Solutions requested to withdraw the appeal as it opted for the Vivad Se Vishwas Scheme, 2020, a government initiative to settle pending direct tax disputes.
Danfoss Power Solutions submitted an application on February 8, 2021, stating that it had filed a declaration under Form 1 to opt for the scheme and provided an undertaking in Form 2, waiving its rights to claim any benefit from the pending appeal. The designated authority issued a certificate in Form 3 on February 3, 2021, confirming the acceptance of the application under the Vivad Se Vishwas Rules, 2020. The company requested the tribunal to mark the appeal as withdrawn in light of the settlement.
The departmental representative (DR) did not raise any objections to the withdrawal request. Considering the formal application and lack of opposition, ITAT Pune permitted the withdrawal of the appeal. Consequently, the tribunal dismissed the Revenue’s appeal as withdrawn, closing the case.
