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Facts
The assessee filed an appeal for Assessment Year 2017-18. The Authorized Representative informed the Tribunal that the assessee had opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024, and had completed the necessary formalities by filing Form-1 and receiving Form-2 from the Designated Authority, thus seeking to withdraw the appeal.
Held
The Tribunal granted permission for the withdrawal of the appeal and dismissed it as withdrawn. It further provided that the assessee retains the right to approach the Tribunal again should any prejudice arise concerning the settlement under the Direct Tax Vivad-se-Vishwas Scheme, 2024.
Key Issues
Whether the Income Tax Appellate Tribunal should allow an assessee to withdraw an appeal upon opting for the Direct Tax Vivad-se-Vishwas Scheme, 2024, for settlement of the tax dispute.
Sections Cited
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Income Tax Appellate Tribunal, ‘C’ BENCH: CHENNAI
Before: SHRI ABY T. VARKEY & SHRI JAGADISH
आदेश / O R D E R
PER JAGADISH, A.M :
Aforesaid appeal filed by the assessee for Assessment Year (AY) 2017-18 arising out of the order of Learned Commissioner of Income Tax, National Faceless Appeal Centre (NFAC), Delhi dated 30.09.2024.
The Ld. Authorized Representative (A.R) of the assessee, at the outset stated that assessee has opted for Direct Tax Vivad-se-Vishwas Scheme, 2024 and therefore, wants to withdraw the appeal. The Ld. A.R has submitted a copy of Form-1 filed by the assessee and Form-2 issued by the designated authority in support of its contention.
We have heard both the sides, and perused the materials available on record. In this case, the assessee has opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024 by filing Form-1. The Designated Authority has also issued Form No.2 for the settlement of pending tax dispute. The Ld. AR has now made a request to withdraw the appeal. We allow the assessee to withdraw the appeal and dismiss the appeal as withdrawn. However, it is open to the assessee to approach the Tribunal by filing an appropriate application in the event of any prejudice caused in respect of the settlement of tax dispute under the Direct Tax Vivad-se-Vishwas Scheme, 2024.
In the result, the appeal filed by the assessee is dismissed as withdrawn.
Order pronounced on 08th January, 2025.