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Facts
M/s. VSoft Technologies Private Limited filed an appeal against the order of the Commissioner of Income Tax (Appeals)-5 for the assessment year 2012-13. During the hearing, the assessee's counsel expressed a desire to withdraw the appeal to avail the Direct Tax “Vivad Se Vishwas Scheme, 2024”.
Held
The Tribunal dismissed the appeal as withdrawn. However, it granted the assessee liberty to approach the Tribunal to reinstate the appeal by filing a Miscellaneous Application if their case is not accepted under the Vivad Se Vishwas Scheme, 2024, by the Revenue.
Key Issues
Whether an appeal can be withdrawn to opt for the Vivad Se Vishwas Scheme, and the conditions under which such an appeal can be reinstated if the scheme application is rejected.
Sections Cited
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Income Tax Appellate Tribunal, HYDERABAD BENCHES “B”, HYDERABAD
Before: SHRI MANJUNATHA. G & SHRI K.NARASIMHA CHARY
आदेश / ORDER PER K. NARASIMHA CHARY, J.M: Aggrieved by the order dated 25/01/2018 passed by the learned Commissioner of Income Tax (Appeals)-5, Hyderabad (“Ld. CIT(A)”), in the case of VSoft Technologies Private Limited (“the assessee”) for the assessment year 2012-13, assessee preferred this appeal.
At the outset, the Learned Counsel for the assessee submitted that the assessee wish to avail Direct Tax “Vivad Se Vishwas Scheme, 2024" and hence, would like to withdraw this appeal.
Having heard both the sides, we hereby dismiss the appeal of the assessee with a liberty to approach the Tribunal if assessee's case is not accepted in Vivad se Vishwas Scheme 2024 by the Revenue for whatsoever may be the reason, then the assessee shall be at liberty to file Misc. Application before the Tribunal within the time limit prescribed under the Act to reinstate assessee's appeal. Ordered accordingly.
In the result, the appeal of the assessee is dismissed as 'withdrawn'. Order pronounced in the open court on this the 22nd day of January, 2025.