AKSH OPTIFIBRE LTD,FARIDABAD vs. DCIT, CENTRAL CIRCLE-26, DELHI

At the outset ,ld. Counsel appearing for the assessee submitted before the Bench that the assessee has opted for Direct Tax Vivad Se Vishwas Scheme, 2024, and the department has already issued Form No 4 (DIN / Acknowledgment No. 850967781300125) for full and final settlement of the tax arrear under Sub-Section (2) of Section 92 read with Section 93 of Finance (No. 2) Act,2024 under the Direct Tax Vivad Se Vishwas Scheme, 2024. The assessee has placed on record Form Nos. 3&4. Prayers are made by the assessee that in view thereof, the assessee wants to withdraw its appeal in 2018-19.

On being asked by the Bench, learned CIT-DR submitted that the Department has no objection if the appeal of the assessee is allowed to be withdrawn.

After hearing both the parties and perusing the material on record, we hereby dismiss the appeal filed by the assessee in 2018-19 being withdrawn by the assessee. Since it is the assessee’s appeal and the assessee is itself praying for its dismissal being withdrawn on having availed VSVS, 2024 scheme, we dismiss this appeal as being withdrawn by the assessee. In case , if due to any reason the aforesaid matter is not finally settled/approved under the scheme, the liberty is granted to the assessee to file application for restoration of its appeal. This order was pronounced in open court on the conclusion of hearing .We order accordingly.