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Income Tax Appellate Tribunal, VARANASI CIRCUIT BENCH, VARANASI
Before: SHRI. B. R. BASKARAN & SHRI AMIT SHUKLA
The aforesaid appeal has been filed by the assessee against the order dated 23.11.2022, passed by the ld. CIT(A), NFAC, Delhi for Assessment Year 2014-15, for quantum of assessment passed under section 143(3) read with 147 of the Income Tax Act, 1961.
Before us, the ld. Counsel for the assessee submitted that the ld. CIT(A) has dismissed the appeal of the assessee on the ground that the assessee has availed the benefit under Vivad Se Viswas Scheme, 2020 (VSVS) and Form No.5, in this regard, has already been issued. However, he submitted that VSVS was opted by the assessee against the original assessment proceedings under section 143(3) of the I.T. Act and not for :-2-:
assessments made under section 147 read with section 143(3) of the I.T. Act. This fact has also been admitted by the ld. D.R. Accordingly, we set aside the order of the ld. CIT(A) and restore the matter to the file of ld. CIT(A) to decide the issue afresh and in accordance with law after affording due and effective opportunity of hearing to the assessee on merits 3. In the result, the appeal of the assessee is allowed for statistical purposes.
Order pronounced in the open court on 5th October 2023