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Facts
The assessee filed an appeal against an order passed by the Assessing Officer, which was in consonance with the orders from the Dispute Resolution Panel and Transfer Pricing Officer for AY 2016-17. The assessee later decided to avail the Vivad Se Vishwas Scheme, 2024.
Held
The Tribunal noted that the assessee had opted to settle the dispute through the Vivad Se Vishwas Scheme, 2024. Consequently, the appeal filed by the assessee was treated as withdrawn.
Key Issues
Whether the appeal should be dismissed as withdrawn since the assessee opted for the Vivad Se Vishwas Scheme, 2024.
Sections Cited
92CA(3), 143(3), 143(3A), 143(3B), 92, 93
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, DELHI BENCH “H”: NEW DELHI
Before: SHRI MAHAVIR SINGH & SHRI M. BALAGANESH
O R D E R PER M. BALAGANESH, AM 1. Assessee M/s. KC Cottrel India Pvt. Ltd, (hereinafter referred to as ‘assessee) by filing the present appeal sought to set aside the impugned order dated 31.03.2021 passed by the Assessing Officer (AO) inconsonance with the order passed by the Dispute Resolution Panel (DRP) dated 17.11.2020 and order passed by Transfer Pricing Officer (TPO) under section 92CA(3) dated 31.10.2019 under section 143(3) read with section 143(3A) and 143(3B) of the Income Tax Act, 1961 (for short ‘the Act’) qua the assessment year 2016-17.
The assessee filed a letter 03.04.2025 before us stating that it would be availing the Vivad Se Vishwas Scheme, 2024 introduced by the Statute to settle the tax disputes prevailing in these years for which declaration in form No.2 has already been issued on 28.03.2025 u/s 2 of Section 92 read with Section 93 of the Finance (No. 2) Act, 2024 under VSVS, 2024.
Since the assessee had opted settling the dispute arising out of this appeal by availing VSVS scheme, 2024, the appeal filed by the assessee is hereby treated as withdrawn.
With the above mentioned liberty given to the` assessee, the appeal filed by the assessee is hereby dismissed as withdrawn.
Order pronounced in the open court on 11/04/2025.