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Facts
The assessee filed an appeal against the order of the National Faceless Appeal Center. The assessee intended to settle the dispute amicably by opting for the Vivad Se Vishwas Scheme, 2024.
Held
The Tribunal noted the assessee's intention to settle the dispute under the Vivad Se Vishwas Scheme. Consequently, the appeal was dismissed as withdrawn.
Key Issues
Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.
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 Assessee against the order dated 26.10.2023, 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. 2020-21.
In the instant case, the Assessee intends to settle the dispute amicably by opting Vivad Se Vishwas Scheme, (in short “VSVS”)
2024 and in pursuance to that has filed Form no.1 on dated 25.01.2025. Therefore, the appeal of the Assessee is liable to be dismissed, however, with liberty to the parties to seek recall of this order, in case of failure of the Assessee for non settling the dispute through VSVS 2024 and/or non depositing the amount to be determined by the Revenue Authority.
In the result, the appeal filed by the Assessee is dismissed as withdrawn with liberty to the parties as mentioned above.
Order pronounced in the open court on 28.01.2025.