SRI. V. SHIVAKUMAR,MYSURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, MYSURU

The Learned AR of the assessee submitted that the assessee has opted to settle the dispute in these appeals under the direct tax Vivad Se Vishwas Scheme, 2020 and has filed Form Nos.1 and 2 and is awaiting to receive Form 3 from the Designated Authority. Learned Counsel for the assessee prayed for keeping the proceedings in abeyance till the assessee received Form 3.

In the course of hearing, it was the proposition put forward by the Bench that under these facts, the appeals of the assessee may be dismissed and withdrawn and liberty may be granted to the assessee to approach this Tribunal for recall of this order under section 254(2) of the Act in case the assessee finally opts out of Vivad Se Vishwas Scheme, 2020. In reply, it was submitted by learned AR of the assessee that if the liberty is granted to the assessee, then we have no objection about dismissal of the appeals as withdrawn. Learned DR of the Revenue also agreed to this proposition put forward by the Bench.

The appeals are accordingly dismissed as withdrawn. The assessee is however at liberty to seek recall of this order in the event of non-issue of Form-III or for other reasons the assessee is not able to settle the dispute under the Scheme.

In the result, assessee’s appeals are dismissed.