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Facts
The assessee appealed an order from the National Faceless Appeal Centre (NFAC) for Assessment Year 2018-19. During the hearing, the assessee informed the Tribunal that they had opted to settle the dispute under the Vivad Se Vishwas Scheme, 2024, and the department had accepted their application.
Held
The Tribunal dismissed the appeal as withdrawn, noting that the tax payment had been quantified under the Vivad Se Vishwas Scheme. The assessee was given the liberty to file a fresh appeal if the issue remains unresolved under the scheme.
Key Issues
Whether to dismiss the appeal as withdrawn given the assessee's election to settle the dispute under the Vivad Se Vishwas Scheme, 2024.
Sections Cited
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Income Tax Appellate Tribunal, “B” 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/250/2024-25/1070133095(1) dated 06.11.2024, for the Assessment Year 2018-19.
At the time of hearing, the learned Counsel for the assessee submitted an application dated 23.01.2025 wherein it is stated that assessee has opted to settle the issue under Vivas Se Vishwas Scheme, 2024. Assessee has submitted Form 1 and acceptance of the same by the Department in Form 2 dated 09.01.2025. We noted from Form 2 issued by PCIT-2, Bangalore, that the payment of tax Page 2 of 2 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 Considering the request of the assessee, we are dismissing this appeal as withdrawn giving liberty to the assessee to come in appeal before the Tribunal in case the issue is not resolved under VSV Scheme, 2024.
In the result, appeal filed by the assessee is dismissed as withdrawn.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.