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Facts
The assessee filed an appeal against the order of the CIT(A)-NFAC for the Assessment Year 2017-18. The assessee's AR filed Form No.2 under the VSVS Scheme, 2024, opting for withdrawal of the appeal.
Held
The Tribunal noted that the assessee had opted for the Direct Tax Vivad Se Vishwas Scheme, 2024, and consequently, the appeal was dismissed as withdrawn. Liberty was granted to seek revival if the scheme settlement was unsuccessful.
Key Issues
Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Direct Tax Vivad Se Vishwas Scheme, 2024.
Sections Cited
250
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Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI
Before: SHRI GEORGE GEORGE K & SHRI S.R. RAGHUNATHA
O R D E R
PER GEORGE GEORGE K, VICE PRESIDENT:
This appeal at the instance of the assessee is directed against CIT(A) - NFAC order dated 22.10.2024, passed under section 250 of the Income Tax Act, 1961 (hereinafter called ‘the Act’). The relevant Assessment Year is 2017-18.
At the outset, it is noticed that the ld.AR for the assessee filed Form No.2 issued by the PCIT under the VSVS Scheme, 2024 for withdrawal of appeal stating that the assessee has opted for Direct Tax Vivad Se Vishwas Scheme, 2024. In light of the above, we dismiss the appeal of the assessee as withdrawn. However, liberty is given to the assessee to seek revival of appeal, in case assessee remains unsuccessful in settlement of appeal under the scheme.
In the result, the appeal filed by the assessee is dismissed as withdrawn. Order pronounced in the open court on 19th February, 2025.