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Facts
The assessee, Ocean Cassette Copier Pvt. Ltd., filed an appeal against an order passed by the NFAC under Section 250 of the Income Tax Act, 1961. During the proceedings, the assessee informed the Tribunal that it had opted for the 'Vivad se Vishwas Scheme' and filed Form No. 1, seeking to withdraw the appeal with liberty to revive it if the scheme process fails.
Held
The Tribunal noted that the assessee had filed Form No. 1 under the 'Vivad se Vishwas Scheme' and the matter was likely to be resolved. It granted liberty to the assessee to file an application for revival of the appeal if the desired outcome under the scheme does not materialize, and dismissed the appeal as withdrawn.
Key Issues
Whether the appeal should be dismissed as withdrawn due to the assessee's opting for the 'Vivad se Vishwas Scheme', and whether to grant liberty for revival if the scheme's outcome is unfavorable.
Sections Cited
250
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, ‘A” BENCH KOLKATA
Before: Shri Sonjoy Sarma & Shri Rakesh Mishra
Assessment Year: 2012-13 Ocean Cassette Copier Pvt. Ltd.……..…………………....Appellant 1st Floor, R/No.106, Jaba Kusum 34 C R Avenue, Kolkata. [PAN: AAACO2923K] vs. ITO, Ward-1(1), Kolkata …………………..………………….…..... Respondent Appearances by: Shri P. K. Sanghai, FCA, appeared on behalf of the appellant. Shri Manas Mondal, Sr. DR, appeared on behalf of the Respondent. Date of concluding the hearing : July 24, 2025 Date of pronouncing the order : July 24, 2025 आदेश / ORDER
Per Sonjoy Sarma, Judicial Member:
This appeal by the assessee is directed against the order dated 28.09.2024 passed by the NFAC [in short CIT(A)] under section 250 of the Income-tax Act, 1961.
The assessment order submitted a letter dated 24.07.25 stating that the assessee has opted for settlement ‘Vivad se Vishwas Scheme" before the competent authority and Form No. 1 has already been filed and acknowledged. However, the final process under the scheme is yet to be completed. In view of this, the assessee prayed for withdrawal of the appeals with liberty to revive the same in case the process under the scheme fails for any reason, and to address the issues raised in the appeal if necessary in future.
The learned DR did not object to the prayer made by the assessee's counsel.
Ganesh Mahato 4. We have heard both sides and perused the materials available on record. It is noted that the assessee has filed Form No. 1 under the "Vived se Vishwas Scheme and the matter is likely to be resolved under the said scheme. However, in the interest of justice, we grant liberty to the assessee to file appropriate application for revival of the appeal in case the desired outcome under the scheme does not materialize.
In view of the above, the appeal is dismissed as withdrawn with liberty as prayed for.
Kolkata, the 24th July, 2025.