SRINIVAS REDDY KOOSUKUNTLA,HYDERABAD vs. INCOME TAX OFFICER, WARD-9(1), HYDERABAD

This appeal by the assessee is directed against the order dated, 03/10/2024 of the learned CIT (A)-NFAC Delhi, for the A.Y.2014-15.

At the time of hearing, the learned AR of the assessee has submitted that, the assessee has opted for Direct Tax Vivad Se Vishwas Scheme (2024) to settle the penalty dispute for the year under consideration. The designated authority has issued

On the other hand, the learned DR has raised no objection, if the present appeal of the assessee is dismissed, in view of the settlement of dispute under Direct Tax Vivad Se Vishwas Scheme (2024).

Having considered the rival submission and careful perusal of the record, we find that the assessee has opted for Direct Tax Vivad Se Vishwas Scheme (2024) to settle the tax dispute in respect of the penalty levied u/s 271(1)(c) of the I.T. Act, 1961. The designated authority has issued Form No.4 dated 12/03/2025 whereby accepted the full and final settlement of tax arrears. Accordingly, the present appeal of the assessee is allowed to be withdrawn and consequently dismissed being withdrawn in view of the settlement of the dispute under Direct Tax Vivad Se Vishwas Scheme (2024).

In the result, appeal of the assessee is dismissed as withdrawn as the dispute has been settled under Direct Tax Vivad Se Vishwas Scheme (2024).