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Facts
The assessee filed appeals against an order passed by the NFAC. The assessee intended to settle the tax dispute under the Vivad Se Vishwas (VSV) Scheme, 2024 and filed the necessary form.
Held
The Tribunal noted that the assessee is settling the dispute under the VSV Scheme. As Form-2 was issued by the revenue authority, the Tribunal found no purpose in keeping the appeals pending.
Key Issues
Whether the appeals should be dismissed as the dispute is being resolved under the Vivad Se Vishwas Scheme, 2024.
Sections Cited
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Income Tax Appellate Tribunal, ‘SMC’ BENCH: BANGALORE
Before: SHRI WASEEM AHMED
PER WASEEM AHMED, ACCOUNTANT MEMBER:
These appeals filed by the assessee are against the order passed by the NFAC, Delhi dated 24/07/2023 vide DIN No. ITBA/NFAC/S/250/2023-24/1054534725(1), ITBA/NFAC/S/250/ 2023-24/ 1054535629 and ITBA/NFAC/S/250/2023-24/1054534894(1) for the assessment years 2013-14, 2014-15 and 2015-16 respectively.
In the present appeals, the assessee has contended that it 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 -862/Bang/2023 Page 2 of 3 the assessee submitted that the assessee is in the process of settling the tax dispute in the appeals 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 10-03-2025 requesting for the withdrawal of appeals.
The Learned Departmental Representative (DR) confirmed the submission of the AR and raised no objection to the dismissal of the appeals in light of the settlement of dispute under DTVSV, 2024.
I have heard the rival contentions of both the parties and perused the materials available on record. Considering the submission of the parties and particularly 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 these appeals pending before the Tribunal. Accordingly, these appeals are 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 appeals to its original number as per the provisions of law.