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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.
Held
The Tribunal treated all appeals as withdrawn and dismissed them, granting the assessee liberty to revive the appeals if the dispute is not settled under the DTVSV 2024.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.
Key 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Whether the appeals filed by the assessee should be treated as withdrawn and dismissed, given the assessee's election to opt for the Direct Tax Vivad Se Vishwas Scheme, 2024.
Sections Cited
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “C” BENCH : BANGALORE
Before: SHRI PRASHANT MAHARISHI & SHRI SOUNDARARAJAN K.
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.
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.
The ld. AR reiterated the same and the ld. DR also agreed with the same.
In view of the above facts, all these 4 appeals filed by the assessee are treated as withdrawn and hence dismissed, with liberty to revive all these appeals in case the impugned dispute is not settled under the DTVSV 2024, on application filed by the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.
In the result, all these appeals of the assessee are allowed to be withdrawn and hence dismissed.