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Facts
The assessee filed an appeal against an order of the Addl/JCIT(A)-2. The assessee informed the tribunal that they intend to settle the dispute under the Vivad Se Vishwas (VSV) Scheme, 2024, and filed Form-2. The assessee also requested the withdrawal of the appeal.
Held
The tribunal noted that the assessee is settling the dispute under the VSV Scheme and Form-2 has been issued. Therefore, keeping the appeal pending would serve no purpose. The tribunal dismissed the appeal.
Key Issues
Whether the appeal should be dismissed as the assessee is settling the dispute 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:
This is an appeal filed by the assessee against the order passed by the Addl/JCIT(A)-2, Guwahati dated 17/01/2024 vide DIN No. ITBA/APL/S/250/2023-24/1059791922(1) for the assessment year 2019- 20.
In the present appeal, the assessee has contended that it intends to settle the dispute under the Vivad Se Vishwas (VSV) Scheme 2024 introduced by the Government of India. At the outset, 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 30-12-2024 requesting for the withdrawal of appeal.
The Learned Departmental Representative (DR) confirmed the submission of the 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.
4.1 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.