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Facts
The assessee filed appeals against the order of the CIT(A) for AY 2016-17 & 2018-19. The assessee requested withdrawal of the appeals as they had opted for the Vivad Se Vishwas Scheme.
Held
The Tribunal allowed the withdrawal of the appeals. The assessee was granted liberty to seek restoration of the original appeals if they failed to avail the benefit of the VSV Scheme for bonafide reasons.
Key Issues
Withdrawal of appeals due to opting for Vivad Se Vishwas Scheme.
Sections Cited
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Income Tax Appellate Tribunal, “D” BENCH, AHMEDABAD
Before: DR. BRR KUMAR & SHRI SIDDHARTHA NAUTIYAL
O R D E R
PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER:
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.
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.
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 –
In the light of written requests made on behalf of the captioned parties, the appeals are dismissed as withdrawn.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.
In the result, both the appeals filed by the assessee are dismissed as withdrawn.
This Order pronounced in Open Court on 19/02/2025