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Facts
The assessee-company filed an appeal against the order of the CIT(A) which dismissed their appeal. The assessment was completed after reopening the case, with additions including disallowance of depreciation, undisclosed income, and disallowance of expenses under Section 40A(3).
Held
The assessee-company requested withdrawal of their appeal, having filed a form under the Direct Tax Vivad-se-Vishwas Scheme 2024. The Tribunal allowed the withdrawal application and dismissed the appeal as withdrawn.
Key Issues
The primary issue was the assessee's request for withdrawal of their appeal due to participation in the Vivad-se-Vishwas Scheme.
Sections Cited
250, 115JB, 148, 143(3), 147, 40A(3)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, AHMEDABAD “SMC” BENCH, AHMEDABAD
Before: MS. SUCHITRA R. KAMBLE
This appeal filed by the assessee is directed against the order of the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as "CIT(A)" for short] dated 18.10.2024 passed under Section 250 of the Income Tax Act, 1961 [hereinafter referred to as "the Act" for short] for the Assessment Year (AY) 2016-17.
The assessee-company is engaged in the business of running hotel known as ‘Hotel Presidency Towers’. The assessee-company filed its return of income declaring income at loss of Rs.16,83,576/- and book profit u/s 115JB at Rs.1,53,776/-. The assessee’s case was reopened u/s 148 of the Act. The assessment was completed u/s 143(3) r.w.s. 147 of the Act on 31.12.2019 by making disallowance of depreciation at Rs.22,40,170/-, addition on account of undisclosed income Rs.13,03,194/-, disallowance u/s 40A(3) of Rs.7,35,200/- and disallowance of PF at Rs.364/-.
Being aggrieved by the assessment order, the assessee filed appeal before the CIT(A). The CIT(A) dismissed the appeal of the assessee. Aggrieved by the order of the CIT(A), the assessee is now in appeal before the Tribunal.
At the time of hearing, none appeared on behalf of the assessee, but vide application dated ‘Nil”, which was received by the Registry on 11.02.2025, the assessee-company has requested withdrawal of the appeal, as it had filed the form under the Direct Tax Vivad-se-Vishwas Scheme 2024 (DTVSV 2024). It appears that the assessee-company has filed Form under DTVSV 2024 and acknowledgment of Form-1 of DTVSV 2024 was also enclosed therewith and the assessee-company requested for withdrawal of the appeal. The said application is signed by the Managing Director of the assessee-company.
The application filed by the assessee-company, which was received by the Registry on 11.02.2025, is taken on record and the assessee- company is allowed to withdraw the appeal.
In the result, the appeal of the assessee is dismissed as withdrawn.