M/S. FEDERATION OF INDIAN GRENITE AND STONE INDUSTRY,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, EXEMPTIONS , CIRCLE-1, , BANGALORE

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ITA 9/BANG/2024Status: HeardITAT Bangalore07 January 2025AY 2014-15Bench: SHRI PRASHANT MAHARISHI (Vice President), SHRI SOUNDARARAJAN K. (Judicial Member)3 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal treated all appeals as withdrawn and dismissed them, granting the assessee liberty to revive the appeals if the dispute is not settled under the DTVSV 2024. Both parties agreed to this arrangement.

What were the facts?

The assessee filed multiple appeals for assessment years 2014-15, 2016-17, 2018-19 & 2020-21. During the hearing, the assessee submitted that they had filed Form 1 for declaration and undertaking under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV 2024), and Form 2 had also been issued by the PCIT.

What were the issues?

Whether the appeals filed by the assessee should be treated as withdrawn and dismissed, given the assessee's election to opt for the Direct Tax Vivad Se Vishwas Scheme, 2024.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH : BANGALORE

Before: SHRI PRASHANT MAHARISHI & SHRI SOUNDARARAJAN K.

For Appellant: Shri Monish Sowkar, Advocate
For Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Hearing: 07.01.2025Pronounced: 07.01.2025

to 12/Bang/2024 are filed by Federation of Indian Granite & Stone Industry (the assessee/appellant) for the assessment years 2014-15, 2016-17, 2018-19 & 2020-21.

2.

At the time of hearing of these appeals, assessee submitted a letter dated 07.01.2025 that assessee has filed Form 1 for declaration and undertaking under the Direct Tax Vivad Se Vishwas Scheme, 2024

[DTVSV 2024] for all the aforesaid assessment years and Form 2 has also been issued by the PCIT, Central Bengaluru on 20.12.2024 for all the aforesaid assessment years. Therefore, assessee would like to withdraw the appeals with liberty to revive the same in case the dispute is not settled under the DTVSV 2024.

3.

The ld. AR reiterated the same and the ld. DR also agreed with the same.

4.

In view of the above facts, all these 4 appeals filed by the assessee are treated as withdrawn and hence dismissed, with liberty to revive all these appeals in case the impugned dispute is not settled under the DTVSV 2024, on application filed by the assessee stating so.

5.

In the result, all these appeals of the assessee are allowed to be withdrawn and hence dismissed.

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