SRINIVAS REDDY KOOSUKUNTLA,HYDERABAD vs. INCOME TAX OFFICER, WARD-9(1), HYDERABAD
ITA No 1343 of 2024 Srinivas Reddy Koosukuntla
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आयकर अपीलȣय अͬधकरण, हैदराबाद पीठ
IN THE INCOME TAX APPELLATE TRIBUNAL
Hyderabad ‘ DB-B ‘ Bench, Hyderabad
Before Shri Vijay Pal Rao, Vice-President
A N D
Shri Manjunatha, G. Accountant Member
आ.अपी.सं /ITA No.1343/Hyd/2024
(िनधाŊरण वषŊ/Assessment Year: 2014-15)
Shri Srinivas Reddy
Koosukuntla
Hyderabad
PAN:CQXPK8269G
Vs.
Income Tax Officer
Ward 9(1)
HYDERABAD
(Appellant)
(Respondent)
िनधाŊįरती Ȫारा/Assessee by:
Shri S. Rama Rao, Advocate
राज̾ व Ȫारा/Revenue by::
Dr. Sachin Kumar, DR
सुनवाई की तारीख/Date of hearing:
26/03/2025
घोषणा की तारीख/Pronouncement: 26/03/2025
आदेश/ORDER
Per Vijay Pal Rao, Vice President
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. 2. 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
ITA No 1343 of 2024 Srinivas Reddy Koosukuntla
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Form No.4 acknowledging the amount paid by the assessee and settlement of tax arrears on this issue. Thus, he has prayed that the assessee may be allowed to withdraw the appeal in view of the settlement of dispute under Direct Tax Vivad Se Vishwas Scheme
(2024).
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 Accordingly, the present appeal of the assessee is allowed to be withdrawn and consequently dismissed being withdrawn in view of the settlement of the dispute under Direct Tax Vivad Se Vishwas Scheme (2024).
In the result, appeal of the assessee is dismissed as withdrawn as the dispute has been settled under Direct Tax Vivad Se Vishwas Scheme (2024).
ITA No 1343 of 2024 Srinivas Reddy Koosukuntla
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Order pronounced in the Open Court at the time of hearing itself, i.e. on 26th March, 2025. (MANJUNATHA, G)
ACCOUNTANT MEMBER
(VIJAY PAL RAO)
VICE-PRESIDENT
Hyderabad, dated 26th March, 2025
Vinodan/sps
Copy to:
S.No Addresses
1
Shri Srinivas Reddy Koosukuntla, H.No.217, Plot No.15, Road No.2,
Green Hills Colony, Saroor Nagar, Hyderabad 500035
2
Income Tax Officer, Circle 9(1) IT Towers, Masab Tank, Hyderabad
3
Pr. CIT – Hyderabad
4
DR, ITAT Hyderabad Benches
5
Guard File
By Order