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Facts
The assessee filed an appeal against an order passed by the NFAC for assessment year 2015-16. The assessee expressed an intention to settle the dispute under the Vivad Se Vishwas (VSV) Scheme, 2024, and filed Form-2 accordingly.
Held
The Tribunal noted that the assessee had submitted Form-2 under the VSV Scheme and the Departmental Representative had no objection. The Tribunal held that keeping the appeal pending would serve no purpose as the issue was being resolved under the VSV Scheme.
Key Issues
The primary issue was the settlement of tax dispute under the Vivad Se Vishwas Scheme, 2024, and the consequent withdrawal/dismissal of the appeal.
Sections Cited
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Income Tax Appellate Tribunal, ‘B’ BENCH: BANGALORE
Before: SHRI WASEEM AHMED & SHRI SOUNDARARAJAN K
PER SHRI WASEEM AHMED, ACCOUNTANT MEMBER:
This is an appeal filed by the assessee against the order passed by the NFAC, Delhi dated 11/07/2024 in DIN No. ITBA/NFAC/S /250/2024-25/1066593205(1) for the assessment year 2015-16.
In the present appeal, the assessee has contended that he intends to settle the dispute under Vivad Se Vishwas (VSV) Scheme 2024 introduced by the Government of India. Accordingly, during the course of the proceedings before us, the ld. Authorized Representative (AR) of the assessee submitted that the assessee is in the process of settling the tax dispute in the appeal on hand and filed Form-2 as prescribed under the Direct Tax Vivad se Vishwas Scheme (DTVSV), 2024, issued by the Competent Authority in support of his contention. Accordingly, the ld. AR filed the letter dated 22-01-2025 requesting for the withdrawal of appeal.
The Learned Departmental Representative (DR) confirmed the submission of the ld. AR and raised no objection to the dismissal of the appeal in light of the settlement of dispute under DTVSV, 2024.
Considering the submission of the parties and in view of the fact that Form-2 has been issued by the revenue authority, we find that no purpose would be served by keeping this appeal pending before the Tribunal. Accordingly, this appeal is dismissed as the issue is being resolved under the Direct Tax Vivad se Vishwas Scheme, 2024. However, before parting it is clarified that in the event the Competent Authority under DTVSV, 2024, for any reason, deems the settlement to be non- operative or invalid, the Assessee shall be at liberty to approach the Tribunal by filing a suitable application for restoration of the appeal to its original number as per the provisions of law.
In the result, the appeal filed by the Assessee is hereby dismissed under DTVSV 2024.
Order pronounced in court on 24th day of March, 2025