VINAYAK INDUSTRIES,GANDHINAGAR vs. THE ITO- WARD-4, MEHSANA

The above appeal filed by the assessee arises from order of the Commissioner of Income Tax (Appeals), Gandhinagar dated 25.2.2019 for assessment year 2010-11.

When the matter was called for hearing, it is noticed that the assessee has filed a letter dated 3.11.2021 enclosing therewith copies form no.3 & 5 issued by the designated authority for settlement of issue under Direct Tax Vivad Se Vishwas Act, 2020. The same are taken on record. In view of this, the assessee seeks withdrawal of the above appeal pending before the Tribunal so as to avail benefit under scheme. The ld.DR has no objection if the appeal of the assessee is treated to be withdrawn in terms of scheme opted by the assessee.

In the light of the above submission made by assessee, we find no reason to keep pending appeal of the assessee before the Tribunal. Accordingly, the appeal of the assessee stands dismissed. However, in the event, the assessee fails to avail the benefit of VSV Scheme for any reasons, then the assessee will be at liberty to seek restoration of original appeal for adjudication before ITAT in accordance with law.

In the result, the appeal of the assessee stands dismissed under VSV scheme.