KARVY INNOTECH LTD,NEW DELHI vs. ACIT, CIRCLE-14(1), NEW DELHI

The assessee has filed application for withdrawal of its appeals as the assessee has opted to settle the issues under the Vivad se Vishwas Scheme, 2024 [in short ‘VSVS’]. The assessee has placed on record copy of Form No. I and 2 filed under VSVS, 2024. The ld. counsel for assessee prayed for liberty to revive appeals in case applications of assessee fail to mature for any reason under Vivad se Vishwas Scheme, 2024. 3. The ld. DR raised no objection to withdrawal of appeals by the assessees.

Both sides heard. In light of application made by the assessee, appeals of assessee and Revenue are dismissed as withdrawn as assessees have opted to settle the issue under Vivad se Vishwas Scheme. Liberty is granted to assessee to revive the appeals in case application of assessee under Vivad se Vishwas Scheme, 2024 fails to mature. M/s Karvy Innotech Ltd [A.Ys 2015-16 and 2016-17]

In the result, appeals of assessees in ITA Nos. 7638, 7639/DEL/2019 and appeals of the Revenue in ITA Nos 7853 and 7854/DEL/2019 are dismissed as withdrawn. The order is pronounced in the open court on 24.07.2025. [ANUBHAV SHARMA]