M/S KANPUR INDUSTRIAL DEVELOPMENT CO-OPERATIVE LTD,KANPUR vs. ACIT, KANPUR

Facts

The assessee filed three appeals for assessment years 2003-04 to 2005-06 against orders by the CIT(A). During the hearing, the assessee informed the tribunal that it had opted for the Vivad Se Viswas Scheme-2024 (VSVS) and received Form-1 certificates from the designated authority for all three assessment years.

Held

The tribunal dismissed the appeals as infructuous due to the assessee opting for the VSVS and receiving the requisite Form-1 certificates. It clarified that the assessee is at liberty to seek restoration of the appeals if the issues are not settled under the VSVS.

Key Issues

Whether appeals before the Income Tax Appellate Tribunal become infructuous and warrant dismissal when the assessee opts for the Vivad Se Viswas Scheme-2024 and obtains Form-1 certificates.