DY. COMMISSIONER OF INCOME TAX(EXEMPTIONS)-2(1), MUMBAI, MUMBAI vs. J. K. TRUST BOMBAY, MUMBAI
Before: SHRI NARENDER KUMAR CHOUDHRY & MS. PADMAVATHY SAssessment Year: 2017-18
Per : Narender Kumar Choudhry, Judicial Member:
This appeal has been preferred by the Revenue Department against the order dated 26.12.2023, impugned herein, passed by the National Faceless Appeal Center (NFAC)/ Ld. Commissioner of Income Tax (Appeals) (in short Ld. Commissioner) under section 250 of the Income Tax Act, 1961 (in short ‘the Act’) for the A.Y.
2017-18. M/s. J.K. Trust Bombay
2
2. At the outset, the Ld. D.R. has submitted that the Assessee with an intention to settle the dispute, has opted for Vivad Se
Vishwas Scheme, (in short “VSVS”) 2024 and in pursuance to that has filed Form No.1. and willing to deposit the requisite amount of tax to be determined by the Revenue Authority in due course of time.
Considering the peculiar facts and circumstances of the case, as the Assessee has opted for VSVS, 2024 hence the Revenue Department’s appeal is liable to be dismissed as withdrawn, however, with liberty to the parties to seek recall of this order, in case of failure to deposit the requisite amount to be determined by the concerned authority under VSVS, 2024 and/or non-settling of dispute.
In the result, the appeal filed by the Revenue Department is dismissed as withdrawn, with liberty to the parties as mentioned above. Order pronounced in the open court on 29.01.2025. (PADMAVATHY S) (NARENDER KUMAR CHOUDHRY) ACCOUNTANT MEMBER JUDICIAL MEMBER
* Kishore, Sr. P.S.
Copy to: The Appellant
The Respondent
The CIT, Concerned, Mumbai
The DR Concerned Bench
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By Order
Dy/Asstt.