AMBIT CAPITAL PRIVATE LIMITED,MUMBAI vs. NFAC, DELHI/ACIT, CIRCLE-4(1)(1), MUMBAI

At the outset the Ld.AR filed submissions dated 21/01/2025 submitting that, the assessee opted for Vivad Se Vishwas Scheme 2024(hereinafter referred to as VSV Scheme). It is submitted that assessee filed declaration pursuant to which the appropriate authority vide order dated 16/01/2025 determined the amount of tax payable as per Form 2. The Ld.AR also filled challan of the receipt of the payment made by the assessee as per Form 2 issued for both years under consideration. 2.1. The Ld. AR thus submitted that assessee therefore has sought withdrawal of present appeals as the disputed tax has been settled under the VSV Scheme. 3. Based on the above declaration and submission by the assessee, the appeals filed for the years under consideration are allowed to be withdrawn. However liberty is granted to the to seek recall of this order assessee for recall of this order in accordance with the law if the circumstance so warrant. In the result the appeals filed by the assessee are dismissed as withdrawn. Order pronounced in the open court on 31/01/2025 (OMKARESHWAR CHIDARA) Judicial Member