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Facts
The assessee filed an appeal against an order passed by NFAC for assessment year 2011-12. The assessee sought to avail the 'Vivad se Vishwas scheme 2024' and subsequently paid the outstanding demand.
Held
The Tribunal allowed the appeal to be withdrawn as the assessee had settled the outstanding demand under the VSV 2024 scheme. The assessee was granted liberty to recall the appeal in an appropriate circumstance.
Key Issues
Whether the appeal can be withdrawn by the assessee after settling the demand under the Vivad se Vishwas scheme.
Sections Cited
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Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI
Before: SMT. BEENA PILLAI
Per: Smt. Beena Pillai, J.M.: The present appeal filed by the assessee arises out of order dated 31/10/2023 passed by NFAC, Delhi, for assessment year 2011-12 vide order dated 31/10/2023.
The Ld.AR submitted that the assessee has sought to ‘Vivad se Vishwas scheme 2024’ and had filed Form 1 with the authorities subsequently Form 2 was issued on 30/12/2024 raising the amount payable at Rs. 5,42,485/-. The assessee has 2 ITA 4867/Mum/2023 A.Y. 2011-12 paid outstanding demand on 30/01/2025, copy of the challan is placed on record. The assessee has thus sought to withdraw the said appeal.
I have considered the submissions in the light of record placed before this Tribunal. As the assessee has settled outstanding demand under VSV 2024, the appeal is allowed to be withdrawn with a liberty to recall in an appropriate circumstance. 4. Accordingly grounds raised by the assessee stands dismissed as withdrawn.
In the result the appeal filed by the assessee stands dismissed as withdrawn. Order pronounced in the open court on 18/02/2025
(BEENA PILLAI) Judicial Member Mumbai: Dated: 18/02/2025 Poonam Mirashi, Stenographer Copy of the order forwarded to:
(1)The Appellant (2) The Respondent (3) The CIT (4) The CIT (Appeals) (5) The DR, I.T.A.T.