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Facts
The assessee opted for the Direct Taxes Vivad Se Vishwas Scheme, 2024 (VSVS). The Department issued Form 2, and the tax was to be paid accordingly. The assessee requested an adjournment to seek withdrawal of appeals after tax payment.
Held
The Tribunal noted that both parties agreed to dismiss the appeals as withdrawn, with liberty to revive them if the VSVS settlement was not finalized. Consequently, the appeals were dismissed as withdrawn.
Key Issues
Whether the appeals should be dismissed as withdrawn due to the assessee opting for the VSVS scheme and the parties agreeing to such dismissal.
Sections Cited
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Income Tax Appellate Tribunal, “A” BENCH : BANGALORE
Before: SHRI LAXMI PRASAD SAHU & SHRI KESHAV DUBEY
Per Bench These appeals of the assessee are arising out of the separate orders dated 15.10.2024 passed by the ld. CIT(Appeals), National Faceless Appeal Centre, Delhi (NFAC) relating to assessment years 2019-20 & 2020-21.
The ld. counsel for the assessee submitted that the assessee has opted for Direct Taxes Vivad Se Vishwas Scheme, 2024 [VSVS] and the Department has issued Form 2 and the assessee has to pay tax accordingly in both the cases. He submitted that once the tax is paid, assessee will seek for withdrawal of the appeals and requested for adjournment of the matters.
The ld. DR did not controvert the submissions of the ld. counsel for the assessee.
At the time of hearing, in view of Form 2 issued by the department, both the parties agreed to dismissal of the appeals as withdrawn with liberty to the assessee to revive the appeals in case the issue is not settled under VSVS. Accordingly, both the appeals of the assessee are dismissed as withdrawn. The assessee is at liberty to revive the appeals if the dispute is not settled under VSV Scheme.
In the result, the appeals of the assessee are dismissed as withdrawn.
Pronounced in the open court on this 19th day of March, 2025.