U.P.I.B.CO-OPERATIVE SOCIETY LTD.,LUCKNOW vs. ITO-2(5), LUCKNOW

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ITA 20/LKW/2024Status: DisposedITAT Lucknow30 January 2025AY 2017-18Bench: SHRI. SUDHANSHU SRIVASTAVA (Judicial Member)2 pages
AI SummaryDismissed

What did the Tribunal hold?

With the consent of the Authorized Representative, the Tribunal dismissed the appeal for statistical purposes, given the assessee's election to proceed under the DTVSV Scheme. The Tribunal granted the assessee liberty to approach it again if the application under the scheme is not finally accepted by the Department.

What were the facts?

The assessee, U.P.I.B. Co-operative Society Ltd., filed an appeal against an order from the National Faceless Appeal Centre for Assessment Year 2015-16. During the proceedings, the assessee informed the Tribunal that it had opted for the Direct Tax Vivad Se Vishwas Scheme, 2024, and had already filed Form No.1 and received Form No.2 from the PCIT.

What were the issues?

Whether an appeal should be dismissed for statistical purposes when the assessee has opted for the Direct Tax Vivad Se Vishwas Scheme, with a provision for restoration if the scheme application is rejected.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SMC BENCH, LUCKNOW

Before: SHRI. SUDHANSHU SRIVASTAVA

For Appellant: Shri Shubham Rastogi, C.A
For Respondent: Shri Sunil Kumar Rajwanshi, D.R

Assessment Year: 2017-18 U.P.I.B. Co-operative Society Ltd. v. Income Tax Officer 2(5) Gate No.1, Canal Colony Lucknow Cantt. Road, Hazratganj Lucknow TAN/PAN:AAAAU8908Q (Appellant) (Respondent) Appellant by: Shri Shubham Rastogi, C.A. Respondent by: Shri Sunil Kumar Rajwanshi, D.R. Date of hearing: 30 01 2025 Date of pronouncement: 30 01 2025 O R D E R

This appeal has been preferred by the assessee against the order dated 07.12.2023, passed by the National Faceless Appeal Centre, Delhi (NFAC) for Assessment Year 2015-16.

2.

During the course of hearing, the Ld. Authorized Representative for the assessee (Ld. A.R.) sought for adjournment and in this regard an application has been moved by the assessee, vide dated 26.11.2024, wherein it has been stated that the assessee has already filed Form No.1 under Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV, 2024) before the Income Tax Department and the Ld. Principal Commissioner of Income Tax, Lucknow (designated authority) has issued Form No.2 on Page 2 of 2 20.11.2024. The copy of Form No.2 dated 20.11.2024 is placed on record.

3.

In view of the fact that the assessee having opted for Direct Tax Vivad Se Vishwas Scheme, 2024, with the consent of the Ld. A.R., the appeal of the assessee is dismissed and the same is consigned to the records with the liberty to the assessee to approach the Tribunal again in case the assessee’s application under Direct Tax Vivad Se Vishwas Scheme, 2024 is not finally accepted by the Department.

4.

In the result, the appeal of the assessee is dismissed for statistical purposes.

Order pronounced in the open Court on 30/01/2025.

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