ITO, WARD-4(1)(1), AHMEDABAD, AHMEDABAD vs. SHREE RAMKRUPA FINANCE PRIVATE LIMITED, AHMEDABAD

The Counsel for the assessee submitted before us that the assessee wants to withdraw the present appeal since it has opted to avail benefit of Vivad se Vishwas Scheme, 2024 and in his submission, the assessee has also enclosed copies of Form No. 1 and 2 issued by the Pr. CIT of Income Tax, Ahmedabad, approving the applications filed by the assessee under the Vivad se Vishwas Scheme, 2024. The Counsel for the assessee submitted before us ITO vs. Shree Ramkrupa Finance Pvt. Ltd. Asst.Year –2013-14 - 2 – that the assessees do not wish to pursue the present appeal since their application under Vivad se Vishwas Scheme, 2024 has been approved by the Income Tax Department and requested that their applications for withdrawal of appeal may please be accepted.

The Ld. Departmental Representative for the Revenue stated that he has no objection to withdraw of the present appeals, in the circumstances narrated on behalf of the assessee.

We have considered the application of the assessee for withdrawal of the appeal on the ground that their application has been approved under Vivad se Vishwas Scheme, 2024. A reference has been made in sub-Section (1) of Section 91 of the Finance (No.2) Act, 2024 and sub-Section (1) of Section 92 of the Finance (No.2) Act, 2024 of Direct Tax Vivad se Vishwas Scheme, 2024 for the purpose of withdrawal of appeal. In the light of the provisions made in the Scheme and after considering the material on record, the aforesaid request for withdrawal of appeal of the assessee to avail the VSV Scheme, 2024 is hereby allowed.