KOSARAJU RAMAKRISHNA,HYDERABAD vs. INCOME TAX OFFICER, WARD-9(1), HYDERABAD

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ITA 1211/HYD/2024Status: DisposedITAT Hyderabad05 March 2025AY 2013-14Bench: SHRI MANJUNATHA G (Accountant Member), SHRI RAVISH SOOD (Judicial Member)1 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for settlement under the Vivad Se Vishwas Scheme and filed a memo for withdrawal. Therefore, the Tribunal dismissed the appeal as 'withdrawn'.

What were the facts?

The assessee filed an appeal against the order of the CIT(A). The assessee had opted to settle the dispute under the Direct Taxes Vivad Se Vishwas Scheme, 2024 and sought permission to withdraw the appeal. The Designated Authority had issued Form No.2 accepting the application and determining the tax payable.

What were the issues?

Whether the appeal can be dismissed as withdrawn when the assessee has opted for settlement under the Direct Taxes Vivad Se Vishwas Scheme, 2024.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD “B” BENCH : HYDERABAD

Before: SHRI MANJUNATHA G & SHRI RAVISH SOOD

Hearing: 05.03.2025Pronounced: 05.03.2025

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD “B” BENCH : HYDERABAD BEFORE SHRI MANJUNATHA G, ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, JUDICIAL MEMBER ITA.No.1211/Hyd/2024 Assessment Year 2013-2014 Kosaraju Ramakrishna The Income Tax Officer, vs. Hyderabad – 500 029. Ward-9(1), PAN ALUPK0695C Hyderabad. (Appellant) (Respondent) For Assessee : Shri P. Vinod, Advocate For Revenue : Dr. Sachin Kumar, Sr AR Date of Hearing : 05.03.2025 Date of Pronouncement : 05.03.2025 ORDER PER MANJUNATHA G, A.M. :

This appeal has been filed by the Assessee against the Order of the learned CIT(A)-National Faceless Appeal Centre [in short “NFAC”], Delhi, dated 29.08.2024, relating to the assessment year 2013-2014.

Learned Counsel for the Assessee, at the very outset, submitted that the assessee has opted to settle the dispute under Direct Taxes Vivad Se Vishwas Scheme, 2024

2 ITA.No.1211/Hyd./2024 and that the Designated Authority has issued Form No.2 and accepted the application filed by the assessee in Form No.1. In view of the above, the assessee vide letter dated 28.02.2025 seeks permission of the Tribunal to withdraw the appeal, to which, the Learned DR has no objection.

We have heard the rival submissions of both the parties and perused the relevant Form No.2 and letter dated 28.02.2025 filed by the assessee for withdrawal of the appeal and we find that, assessee has opted to settle the dispute under Direct Taxes Vivad Se Vishwas Scheme, 2024 by filing Form No.1 and the Designated Authority has issued Form No.2 dated 17.02.2025 and determined the tax payable at Rs.48,29,052/-. Since the assessee has opted to settle the dispute under Direct Taxes Vivad Se Vishwas Scheme, 2024 and filed memo for withdrawal of the appeal, we dismiss the appeal of the assessee as “withdrawn”. We make it clear that, the assessee can approach the Tribunal in case the settlement is not accepted by the Department under Direct Taxes Vivad se Vishwas Scheme 2024, for whatsoever may be the reason, then the assessee shall be at 3 ITA.No.1211/Hyd./2024 liberty to file Miscellaneous Application before the Tribunal within the time limit prescribed under the Act to reinstate the instant assessee's appeal. Ordered accordingly.

In the result, appeal of the Assessee is dismissed. as “withdrawn”.

Order pronounced in the open Court on 05.03.2025. Sd/- Sd/- [RAVISH SOOD] [MANJUNATHA G] JUDICIAL MEMBER ACCOUNTANT MEMBER Hyderabad, Dated 05th March, 2025 VBP Copy to Kosaraju Ramakrishna, 4-128/5-507, Saroornagar, 1. Dilsukhnagar Colony S.O. Hyderabad, KV Ranga Reddy. PIN – 500 060. Telangana. The Income Tax Officer, Ward-9(1), IT Towers, AC 2. Guards, Masab Tank, Hyderabad – 500 004. Telangana.

3. The Pr. CIT, Hyderabad.

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