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Facts
The assessee filed an appeal against an order of the NFAC. During the pendency of the appeal, the assessee intended to settle the dispute amicably through the Vivad Se Vishwas Scheme, 2024, and had filed Form No.1.
Held
The Tribunal noted that the assessee intended to settle the dispute via the Vivad Se Vishwas Scheme. Considering this, the appeal was dismissed as withdrawn, with liberty granted to both parties to seek recall of the order if the settlement was not finalized.
Key Issues
Whether the appeal should be dismissed as withdrawn due to the assessee's intention to settle the dispute under the Vivad Se Vishwas Scheme.
Sections Cited
250
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, MUMBAI BENCH “SMC”, MUMBAI
Before: SHRI NARENDER KUMAR CHOUDHRY
Per : Narender Kumar Choudhry, Judicial Member:
This appeal has been preferred by the Assessee against the order dated 22.02.2024, 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. 2014-15.
The Assessee intends to settle the dispute amicably through Vivad Se Vishwas Scheme, 2024 and therefore has already filed Form No.1 and waiting for determination of the due amount and undertakes to deposit the same within the due date to be prescribed by the Revenue Authority.
The Ld. D.R. also acknowledged the aforesaid facts of filing form No.1.
Considering the aforesaid facts and circumstances, the appeal of the Assessee is dismissed as withdrawn, however, with liberty to both the parties to seek recall of this order, in case of not settling the dispute finally and/or non-depositing the amount by the Assessee with the prescribed time, as to be determined by the authorities.
In the result, the appeal filed by the Assessee is dismissed as withdrawn, with liberty as mentioned above.
Order pronounced in the open court on 10.01.2025.