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Facts
The assessee filed an appeal against the order of the CIT(A) for assessment year 2017-18. The assessee subsequently filed an application to withdraw the appeal as they have availed benefit under the 'Vivad Se Vishwas Scheme 2024' and resolved the dispute with the Revenue.
Held
The Tribunal considered the assessee's prayer and dismissed the appeal as withdrawn, as the settlement under the 'Vivad Se Vishwas Scheme' rendered the appeal infructuous. The Tribunal also clarified that the appeal could be revived if the benefit of the scheme was not fully availed due to technicalities, subject to a valid application within the limitation period.
Key Issues
Whether the appeal should be dismissed as withdrawn due to the assessee availing benefit of the 'Vivad Se Vishwas Scheme' and resolving the dispute with the Revenue.
Sections Cited
254(2)
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Income Tax Appellate Tribunal, DIVISION BENCH, ‘A’ CHANDIGARH
Before: SHRI LALIET KUMAR & SHRI KRINWANT SAHAY
O R D E R PER KRINWANT SAHAY, AM The assessee is in appeal before the Tribunal against the order of the Commissioner of Income Tax (Appeals) [in short ‘the CIT (A)’] dated 28.05.2024 passed for assessment year 2017-18.
The assessee has filed an application for withdrawal of this appeal on the ground that he has availed benefit of A.Y.2017-18 2 'Vivad Se Vishwas Scheme 2024’ and he has resolved the dispute with the Revenue under this Scheme. Necessary certificate in Form No.2 under Rule 5 has been issued to him which is placed on record.
Considering the prayer of the assessee, this appeal is dismissed as withdrawn because in view of this settlement of dispute under 'Vivad Se Vishwas Scheme', it becomes infructuous. However, it is made clear that in case, on account of some technicalities, assessee failed to avail the full benefit of this Scheme, then both sides will be at liberty to get the appeal revived after filing of application under Section 254(2) of the Income Tax Act. Such application be filed within due date of limitation provided under this Scheme.
In the result, appeal of the assessee is dismissed as withdrawn.