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Facts
The assessee filed an appeal against the final assessment order for AY 2014-15. The assessee subsequently filed a letter seeking to withdraw the appeal as they had opted to settle the dispute under the Vivad se Viswas Scheme, 2024.
Held
The Tribunal noted that the assessee had opted for settlement under the Vivad se Viswas Scheme and that the Income-tax Department had accepted the application. The appeal was dismissed as withdrawn.
Key Issues
Whether the appeal can be dismissed as withdrawn when the assessee opts for settlement under the Vivad se Viswas Scheme.
Sections Cited
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Income Tax Appellate Tribunal, “I” BENCH MUMBAI
ORDER PER: AMIT SHUKLA, JM: The aforesaid appeal has been filed by the assessee against the final assessment order dated 31.03.2024 passed in pursuance of direction given by the DRP dated 29.02.2024 for the assessment year 2014-15.
Before us assessee has filed following letter for withdrawal of appeal: “We refer to the aforesaid appeal in the case of our above named client for income - tax 2 assessment year 2014-15, heard on 30th December, 2024. In this connection, we would like to inform you that our client has opted to settle the dispute by filing an application in Form 1 under the Vivad se Viswas Scheme, 2024. The Income-tax Department has accepted the application and has issued a certificate in Form 2 on 8th January, 2025 (photo copy enclosed). In view of the above, we request you to allow our client to withdraw the aforesaid appeal, under advice.”
Ld. DR does not have any objection.
In view of the aforesaid letter, that assessee has opted for settlement of dispute under VSV Scheme. Accordingly, appeal of the assessee is dismissed as withdrawn.
In the result the appeal filed by the assessee is dismissed as withdrawn. Order pronounced in the open court on 20.01.2025. (AMARJIT SINGH) (AMIT SHUKLA)