DCIT, DELHI vs. RAJ KUMARS SHREE NATH DIAMONDS PRIVATE LIMITED, DELHI

The present appeal has been filed by the Revenue against the order of the Ld. Commissioner of Income Tax (Appeals), (hereinafter referred to as “CIT(A)”), National Faceless Appeal Centre (hereinafter referred to as “NFAC”), Delhi dated 28.03.2024 passed under Section 250 of the Income Tax Act, 1961 (hereinafter referred to as the “Act”) and relates to Assessment Year (A.Y.) 2017-18.

At the outset itself, Ld. Counsel for the assessee submitted in writing before us that the assessee had availed for settlement of the dispute under the Direct TaxVivad Se Vishwas Scheme, 2024 and had duly filed DTVSV Form No.1 on 31.01.2025 which application of the assessee was approved by Pr.CIT, Delhi on 02.04.2025 determining a sum of Rs.87,66,580/- as required to be paid for full and final settlement for the resolution of the impugned dispute, furnishing Form No.2 dated 02.04.2025 in this regard. He pointed out that the assessee had paid the said amount on 05.04.2025. Copy of challan dated 05.04.2025 was furnished before us. Ld. Counsel for the assessee, therefore, stated that since all conditions stipulated for the settlement of the dispute under the Direct Tax VSV Scheme, 2024 stood fulfilled by the assessee, he pleaded for the withdrawal of the instant appeal before us.

Ld. DR fairly agreed with the above.

In view of the factual submissions made by the Ld. Counsel for the assessee before us duly supported with evidences demonstrating the settlement of the assessee’s dispute under the VSV Scheme, 2024 by way of Form 1 and Form 2 alongwith the copy of the challan showing payment of the tax determined as payable by the assessee under the said Scheme, being furnished before us,the impugned appeal of the Revenue is hereby dismissed as withdrawn.

In the result, Revenue’s appeal is dismissed as withdrawn.