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Facts
The Revenue Department preferred an appeal against an order passed by the Commissioner of Income Tax (Appeals). The assessee had opted for the Vivad Se Vishwas Scheme (VSVS) 2024 to settle the dispute.
Held
The Tribunal held that as the assessee opted for the VSVS scheme, the Revenue Department's appeal should be dismissed as withdrawn. Liberty was granted to recall the order if the VSVS settlement failed.
Key Issues
Whether the Revenue's appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme for dispute resolution.
Sections Cited
250
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Income Tax Appellate Tribunal, MUMBAI BENCH “F”, MUMBAI
Before: SHRI NARENDER KUMAR CHOUDHRY & MS. PADMAVATHY S
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.
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the case, as the Assessee has opted for VSVS, 2024 hence the Revenue Department’s appeal is liable to be dismissed as withdrawn, however, with liberty to the parties to seek recall of this order, in case of failure to deposit the requisite amount to be determined by the concerned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In the result, the appeal filed by the Revenue Department is dismissed as withdrawn, with liberty to the parties as mentioned above.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.