PRAVEEN JAIN,NEW DELHI vs. ACIT CIRCLE-55(1), NEW DELHI

The captioned appeal has been filed at the instance of the assessee against the order of the Commissioner of Income Tax (Appeals)-37, New Delhi (‘CIT(A)’ in short), dated 30.08.2019 concerning AY 2014-15.

The captioned assessee has sought to withdraw the appeal listed above on the ground that assessee has opted to avail benefits of ‘Vivad se Vishwas Scheme, 2020’ (VSV). As per letter dated 21.02.2023 filed by assessee, it is submitted that assessee does not seek to pursue the said appeal owing to exercise of option for availing VSV Scheme and consequently requested that assessee’s application for withdrawal of appeal may please be granted.

The ld. Departmental Representative for the Revenue stated that he has no objection to withdraw the appeal in the circumstances narrated on behalf of the assessee.

In the light of requests made on behalf of the captioned party, the appeal is dismissed as withdrawn. However, in the event, the assessee fails to avail the benefit of VSV Scheme for any bonafide reasons, then the assessee concerned will be at liberty to seek restoration of original appeal for hearing before ITAT in accordance with law.

In the result, the captioned appeal is dismissed as withdrawn. This Order pronounced on 21/02/2023