What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw the appeal. Consequently, the appeal was dismissed as withdrawn.

The assessee filed an appeal before the ITAT. Subsequently, the assessee sought to withdraw the appeal by opting for the Vivad Se Vishwas Scheme, 2020. The Revenue did not object to the withdrawal.

What were the issues?

The primary issue was whether the assessee should be allowed to withdraw its appeal due to opting for a settlement scheme.

M/S Kolhapur Oxygen & Acetylene… vs ACIT | ITAT Panaji 2021

Income Tax Appellate Tribunal, PANAJI BENCH, PANAJI

Before: SHRI R.S. SYAL & SHRI S.S.VISWANETHRA RAVI

For Respondent: Shri Prabhat Jha

Assessee by None (withdrawal application) Revenue by Shri Prabhat Jha Date of hearing 22-07-2021 Date of pronouncement 22-07-2021 आदेश / ORDER This appeal by the assessee arises out of the order dated 31-05-2018 passed by the CIT(A)-1, Panaji in relation to the assessment year 2008-09.

Before us, the assessee has filed a letter dated 17-04-2021 seeking withdrawal of the appeal. The relevant contents of such letter reads as under: “I, the undersigned being authorized signatory of Kolhapur Oxygen and Acetylene Pvt. Ltd. would like to withdraw the above referred appeal filed in view of opting for the Vivad Se Vishwas Scheme, 2020 for the said appeal. Attaching herewith Form 1 and 3 and Form 3 for your reference and record. Kindly take the withdrawal of the above referred appeal on record.”

M/s. Kolhapur Oxygen & Acetylene Pvt. Ltd.,

The ld. DR did not raise any objection to the withdrawal of the appeal filed by the assessee. As such, the assessee is permitted to withdraw the appeal.

In the result, the appeal is dismissed as ‘withdrawn’.

Order pronounced in the Open Court on 22nd July, 2021.

Sd/- Sd/- (S.S.VISWANETHRA RAVI) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; ददन ांक Dated : 22nd July, 2021 सतीश /GCVSR आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपील थी / The Appellant; 2. प्रत्यथी / The Respondent; 3. The CIT(A),-1, Panaji 4. The Pr. CIT-1, Panaji 5. DR, ITAT, Panaji Bench, Panaji 6. ग र्ड फ ईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अदधकरण ,पुणे / ITAT, Pune

M/s. Kolhapur Oxygen & Acetylene Pvt. Ltd.,

Date 1. Draft dictated on 22-07-2021 Sr.PS 2. Draft placed before author 22-07-2021 Sr.PS 3. Draft proposed & placed before JM the second member 4. Draft discussed/approved by JM Second Member. 5. Approved Draft comes to the Sr.PS Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order.

M/S KOLHAPUR OXYGEN & ACETYLENE PVT. LTD,VASCO vs. THE ACIT, CIRCLE - 2, MARGAO

What did the Tribunal hold?

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