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Facts
Natwest Markets PLC appealed against an order from the Dispute Resolution Panel-2 for Assessment Year 2013-14. During the hearing, the assessee informed the tribunal that it had opted into the Vivad Se Vishwas Scheme 2024 and requested to withdraw the appeal.
Held
The tribunal dismissed the appeal as withdrawn, as the Departmental Representative did not object to the request. The assessee was granted the liberty to revive the appeal by filing a miscellaneous application if they are unsuccessful in the VSVS-24 scheme for any reason.
Key Issues
Whether to allow the assessee to withdraw its appeal due to its participation in the Vivad Se Vishwas Scheme 2024.
Sections Cited
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “C” BENCH: KOLKATA
Before: Shri Pradip Kumar Choubey&Shri Rakesh Mishra]
ORDER / आदेश Per Pradip Kumar Choubey, JM:
This is the appeal preferred by the assessee against the order of Dispute Resolution Panel-2, New Delhi (hereinafter referred to as the Ld. DRP] dated 21.12.2022 for AY 2013-14.
At the time of hearing, the Ld. Counsel for the assessee submitted a letter dated 21.01.2025 pointing out that the assessee has already gone into Vivad Se Vishwas Assessment Year: 2013-14 Natwest markets PLC Scheme 2024 ('VSVS 2024' Scheme) and therefore, prayed before the Bench that the assessee may be allowed to withdraw this appeal to which the ld. DR did not oppose.
Hence, we are dismissing the appeal as withdrawn with the liberty to the assessee to get the appeal revived by filing necessary miscellaneous application if the assessee is not successful in the VSVS-24, for any reason, whatsoever.
In the result, the appeal filed by the assessee is dismissed as withdrawn. Order is pronounced in the open court on 12th June , 2025 Sd/- Sd/- (Rakesh Mishra /राकेश �म�) (Pradip Kumar Choubey /�द�प कुमार चौबे) Accountant Member/लेखा सद�य Judicial Member/�या�यक सद�य Dated: 12th June, 2025 SM, Sr. PS Copy of the order forwarded to: 1. Appellant- Natwest Markets PLC, 907, Regus, 9th Floor, PS Arcadia, 4A, Abanindra Nath Thakur Sarani, Kolkata- 700016 2. Respondent – ACIT, IT-1(2), Kolkata 3. Ld. DRP-2, New Delhi 4. Ld. Pr. CIT- , Kolkata 5. DR, Kolkata Benches, Kolkata (sent through e-mail)