ASHOK KUMAR BHARTIA & SONS HUF,AHMEDABAD vs. ITO, WARD-5(2)(2), AHMEDABAD

When the matter was called for hearing, it is submitted by the ld.counsel for the assessee that the assessee has opted for Vivad Se Vishwas Scheme and issued form no.3 to this effect. Assessee has placed on record copy of Form No.3. It is therefore submitted that the assessee may be given permission to withdraw his appeal for availing benefit under Direct Tax Vivad Se Vishwas Act, 2020. The ld.counsel for the assessee has filed a letter dated 13.4.2021 to this effect. The ld.DR has no objection if the appeal of the assessee is treated to be withdrawn in terms of scheme opted by the assessee.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, I find no reason to keep pending appeal of the assessee before the Tribunal since the assessee has exercised its option to settle the issue as per Vivad Se Vishwas Scheme. 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. Order pronounced in the Court on 1st June, 2021 at Ahmedabad.