Loading judgment…
Facts
The assessee filed an appeal against an order passed by NFAC for the quantum of assessment for AY 2015-16. The assessee opted for settlement under the 'Vivad Se Vishwas Scheme-2024' and filed an application before the authorities.
Held
The Tribunal noted that the assessee had opted for settlement under the Vivad Se Vishwas Scheme. Consequently, the appeal was dismissed as withdrawn, with liberty to seek restoration if the settlement scheme application does not materialize.
Key Issues
Whether the appeal should be dismissed as withdrawn upon opting for the Vivad Se Vishwas Scheme.
Sections Cited
143(3)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, ‘D’ BENCH
आदेश / O R D E R PER AMIT SHUKLA (JM): The aforesaid appeal has been filed by the assessee against order passed by NFAC dated 12/03/2024 for the quantum of assessment passed u/s.143(3) for the A.Y.2015- 16.
In the aforesaid appeal the ld. Counsel for the assessee has submitted that assessee has opted for settlement of its tax dispute under the ‘Vivad Se Vishwas Scheme-2024’ and has also filed application before the authorities. Accordingly, Dineshchandra Mulji Karia appeal of the assessee is dismissed as withdrawn, however, liberty is given to the assessee in case the application for VSVS does not materialize and is not accepted, assessee may file an application for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. Accordingly, appeal of the assessee is dismissed in limine.
In the result, appeal of the assessee is dismissed.
Order pronounced on 29th January, 2025.