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Facts
The assessee filed an appeal against an order passed by the NFAC. During the proceedings, the assessee's AR submitted that the dispute was settled under the Direct Tax Vivad se Vishwas Scheme (DTVSV), 2024.
Held
The Tribunal considered the submission of the parties and the fact that Form-4 was issued by the competent authority settling the dispute. Therefore, the appeal was dismissed as the issue was resolved under the DTVSV, 2024.
Key Issues
Whether the appeal can be dismissed as settled under the Direct Tax Vivad se Vishwas Scheme, 2024.
Sections Cited
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Income Tax Appellate Tribunal, ‘A’ BENCH: BANGALORE
Before: SHRI WASEEM AHMED & SHRI PRAKASH CHAND YADAV
PER WASEEM AHMED, ACCOUNTANT MEMBER:
This is an appeal filed by the assessee against the order passed by the NFAC, Delhi dated 28/08/2024 vide DIN No. ITBA/APL/S/250/2024-25/1068084290(1) for the assessment year 2016- 17.
At the outset, during the course of the proceedings before us, the ld. Authorized Representative (AR) of the Assessee submitted that the Assessee has settled the dispute arising in the impugned appeal under the Direct Tax Vivad se Vishwas Scheme (DTVSV), 2024 which is evident from form 4 issued by the Competent Authority dated 24-12-2024 and placed on record. Accordingly, the ld. AR submitted that the assessee wants to withdraw the 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 the dispute under DTVSV, 2024.
3.1 Considering the submission of the parties and in view of the fact that Form-4 has been issued by the competent authority settling the dispute arising in the impugned appeal on hand, accordingly, this appeal is dismissed as the issue is resolved under the Direct Tax Vivad se Vishwas Scheme, 2024.
In the result, the appeal filed by the Assessee is hereby dismissed under DTVSV 2024.