NISHITHA REDDY VALLAMLA,HYDERABAD vs. ADDL.CIT, RANGE-9, HYDERABAD

This appeal filed by the assessee is directed against the order dated, 06/09/2024 of the learned CIT (A)-NFAC Delhi, relating to A.Y.2017-18.

At the time of hearing, the learned Counsel for the assessee has stated at Bar that, the assessee has opted for VSV Scheme 2024 to settle the dispute of outstanding taxes arising from the impugned order on levy of penalty u/s 271D of the I.T. Act, 1961 by filing the declaration in Form-1. He has further

On the other hand, the learned DR has raised no objection, if the appeal of the assessee is dismissed as withdrawn in view of the fact that the assessee has opted for VSV Scheme 2024 to settle the tax disputes in question.

Having considered the submissions of both the sides as well as perusal of the relevant record, at the outset we note that the assessee has opted for VSV Scheme 2024 to settle the dispute of outstanding tax due, arising from the penalty levied u/s 2671D of the Act for the year consideration. The designated authority has issued Form-2 on 11/03/2025 determining the tax liability which has been paid by the assessee vide challan dated 18/03/2025. A copy of Form-2 and challan dated 18/03/2025 was placed on record. Accordingly, the assessee is allowed to withdraw the present appeal and consequently, the appeal of the assessee is dismissed as withdrawn. In case the tax dispute, in question, is not finally settled under the VSV Scheme 2024, the assessee may approach the Tribunal for revival of the present appeal subject to limitation.

In the result, appeal filed by the assessee is dismissed being withdrawn.