SHYAM INDUSTRIES,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(1)(1), AHMEDABAD

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ITA 493/AHD/2024Status: DisposedITAT Ahmedabad19 February 2025AY 2016-17Bench: DR. BRR KUMAR (Vice President), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)1 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted the request for withdrawal of the appeals due to the assessee opting for the Vivad Se Vishwas Scheme. Consequently, the appeals were dismissed as withdrawn. A liberty was granted to the assessee to seek restoration of appeals if the VSV Scheme benefit could not be availed for bonafide reasons.

What were the facts?

The assessee filed two appeals against orders passed by the Ld. CIT(A) for Assessment Years 2016-17 & 2018-19. The assessee's counsel requested the withdrawal of the appeals, having opted for the Vivad Se Vishwas Scheme and filed Form No. 1. The Revenue had no objection.

What were the issues?

Whether the appeals can be dismissed as withdrawn on the assessee opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, AHMEDABAD

Before: DR. BRR KUMAR & SHRI SIDDHARTHA NAUTIYAL

For Appellant: Shri Parimalsingh B. Parmar, A.R
For Respondent: Shri V. K. Mangla, Sr. D.R
Pronounced: 19.02.2025

O R D E R

PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER:

1.

Both appeals have been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax(Appeals), (in short “Ld. CIT(A)”), National Faceless Appeal Centre (in short “NFAC”), Delhi vide order dated 05.02.2024 passed for Assessment Years 2016-17 & 2018-19.

2.

At the outset, the Ld. Counsel for the assessee vide letter dated 17.02.2025 submitted that he has opted for Vivad Se Vishwas Scheme and consequently requested that his application for withdrawal of appeal may please be granted. The assessee has filed Form No. 1 under the Direct Tax Vivad Se Vishwan Scheme, 2024.

3.

The Ld. D.R. for the Revenue stated that he has no objection to withdraw the appeal in the circumstances narrated on behalf of the assessee.

&494/Ahd/2024 Shyam Industries vs. DCIT Asst. Years –2016-17 & 2018-19 - 2 –

4.

In the light of written requests made on behalf of the captioned parties, the appeals are dismissed as withdrawn. However, in the event, the assessee fails to avail the benefit of VSV Scheme for any bonafide reasons, then the assessee concerned wil be at liberty to seek restoration of original appeals for hearing before ITAT in accordance with law.

5.

In the result, both the appeals filed by the assessee are dismissed as withdrawn.

This Order pronounced in Open Court on 19/02/2025

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