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Facts
The assessee filed an appeal against a penalty order for AY 2010-11. The assessee had opted for settlement under the Vivad Se Vishwas Scheme-2024 and filed an application.
Held
The Tribunal held that the appeal was dismissed as withdrawn since the assessee had opted for the Vivad Se Vishwas Scheme. Liberty was granted to seek restoration if the scheme application failed.
Key Issues
Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.
Sections Cited
271(1)(c)
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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 assessee against order passed by NFAC, Delhi dated 18/11/2024 in relation to penalty proceedings under Section 271(1)(c) of the Income Tax Act, 1961 for the Assessment Year 2010-11.
In the aforesaid appeal the ld. Counsel for the assessee has submitted that assessee has opted for settlement of its Dev Diamonds tax dispute under the ‘Vivad Se Vishwas Scheme-2024’ and has also filed application before the authorities. Accordingly, appeal of the assessee is dismissed as withdrawn, however, liberty is given to the assessee in case the application for VSVS does not materialize and is not accepted, assessee may file an application for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. Accordingly, appeal of the assessee is dismissed in limine.
In the result, appeal of the assessee is dismissed.
Order pronounced on 29th January,2025.