Loading judgment…
Facts
The assessee filed an appeal against a penalty order for AY 2012-13. The penalty was confirmed by the CIT(A). The assessee had settled the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024.
Held
The Tribunal accepted the assessee's request to withdraw the appeal as the dispute was settled under the Vivad Se Vishwas Scheme. Liberty was granted to revive the appeal if the settlement failed.
Key Issues
Whether the appeal should be dismissed as withdrawn due to settlement under the Direct Tax Vivad Se Vishwas Scheme.
Sections Cited
271(1)(b)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “B” BENCH, CHANDIGARH
Before: HON’BLE SHRI LALIET KUMAR, JM & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM
O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2012-13 arises out of an order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 26-07-2024 confirming penalty of Rs.40,000/- as levied by Ld. AO u/s. 271(1)(b) vide order dated 05-02-2022.
The Ld. AR, at the outset, sought withdrawal of the captioned appeal on the ground that the assessee has settled the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024 and Form No.2 has already been issued to the assessee which has been placed on record. The withdrawal of appeal has not been objected to by Ld. Sr. DR.
Accepting the prayer of Ld. AR, the appeal of the assessee is dismissed as withdrawn subject to liberty to the assessee to seek revival of the appeal in case the aforesaid resolution fails, for whatever reasons. 4. The appeal of the assessee stand dismissed as withdrawn. Order pronounced on 16th April, 2025.