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Facts
The assessee filed an appeal against an order for AY 2017-18. During the hearing, the assessee requested withdrawal of the appeal, stating they had opted to settle the issue under the VSV Scheme, 2024.
Held
The Tribunal noted the assessee's application for withdrawal and the quantification of tax payment under the VSV Scheme. Consequently, the appeal was dismissed as withdrawn.
Key Issues
Withdrawal of appeal by the assessee opting for settlement under VSV Scheme, 2024.
Sections Cited
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Income Tax Appellate Tribunal, “C” BENCH : BANGALORE
Before: SHRI. LAXMI PRASAD SAHU & SHRI. SOUNDARARAJAN K
Per Laxmi Prasad Sahu, Accountant Member :
This appeal filed by the assessee is against the Order passed by the National Faceless Appeal Centre (NFAC), vide DIN and Order No.ITBA/NFAC/S/250/2024-25/1060962087(1) dated 15.02.2024, for the Assessment Year 2017-18.
At the time of hearing, we noted that assessee has filed an application requesting for withdrawal of appeal vide his application dated 19.12.2024 which was received by the ITAT Bangalore on 22.12.2024 vide receipt No.1845 in which it has been stated that the assessee has opted to settle the issue under VSV Scheme, 2024 and Form 2 of DTSV, 2024, has been received dated 06.12.2024 Page 2 of 2 against the application acknowledgement No.743790101061224 dated 23.11.2024. We noted from Form 2 issued by Pr.CIT-2, Bangalore, that the payment of tax has been quantified. Considering the request of the assessee, we are dismissing this appeal as withdrawn giving liberty to the assessee to come in appeal before the Tribunal in case the issue is not resolved under VSV Scheme, 2024.
In the result, appeal filed by the assessee is dismissed as withdrawn.
Pronounced in the court on the date mentioned on the caption page.