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Facts
The Revenue filed an appeal against a penalty order under Section 270A for Assessment Year 2020-21. The assessee's counsel informed the Tribunal that Form No. 1 under the Direct Taxes Vivad se Vishwas Scheme, 2020 had been filed, but Form No. 2 was still awaited from the department.
Held
The Tribunal dismissed the appeal as withdrawn due to the assessee's participation in the Vivad se Vishwas Scheme. It granted the assessee liberty to apply for restoration of the appeal if the VSVS application does not materialize or is not accepted.
Key Issues
Whether the appeal should be dismissed as withdrawn given the assessee's participation in the Vivad se Vishwas Scheme, 2020, while awaiting the completion of the scheme process.
Sections Cited
270A
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Income Tax Appellate Tribunal, ‘D’ BENCH
आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the Revenue against order dated 26/09/2024 passed by NFAC, Delhi in relation to the penalty proceedings u/s.270A for A.Y.2020-21.
At the time of hearing the Counsel of the assessee submitted that assessee has already filed Form No. 1 under Vivad se Vishwas Scheme, 2020. However, till date Form No. 2 is awaited from the department.
Shri Rajesh Ashok Vajnik 3. We have carefully considered the application of the assessee. Assessee has already filed Form No. 1 under Direct Taxes Vivad se Vishwas Scheme, 2020 and Form 2 is awaited from the department. Accordingly, appeal of the assessee is dismissed as withdrawn, however, liberty is given to the assessee in case the application for VSVS does not materialize and is not accepted, assessee may file an application for restoration of the appeal.
In the result, appeal of the assessee is dismissed as withdrawn.
Order pronounced on 19th February, 2025.