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Facts
The appellant-assessee filed an appeal before the Income Tax Appellate Tribunal against an order from the Learned CIT(A) dated 12.11.2024, which had partly allowed one ground (No. 3) but dismissed two others (Nos. 1 and 2) related to long-term capital gains for the assessment year 2014-15. During the tribunal proceedings, the assessee presented Form 4, indicating that they had opted for settlement under the Direct Taxes Vivad Se Vishwas Scheme, 2024.
Held
The Income Tax Appellate Tribunal dismissed the appeal as withdrawn, acknowledging the assessee's application for settlement under the Direct Taxes Vivad Se Vishwas Scheme, 2024, and the submission of Form 4. The tribunal clarified that the assessee retains the liberty to apply for revival of the appeal if no settlement is ultimately reached between the parties.
Key Issues
Whether an appeal before the Income Tax Appellate Tribunal should be dismissed as withdrawn when the assessee has opted for settlement under the Direct Taxes Vivad Se Vishwas Scheme, 2024, and provided proof of such application.
Sections Cited
250
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Income Tax Appellate Tribunal, JAIPUR BENCHES,”A-Bench” JAIPUR
Before: SHRI GAGAN GOYAL, AM & SHRI NARINDER KUMAR, JM
vkns'k@ORDER Per: NARINDER KUMAR, JUDICIAL MEMBER .
Appellant-assessee is before this Appellate Tribunal, feeling aggrieved by the order dated 12.11.2024, passed Learned CIT(A), National Faceless Appeal Centre, u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”), as thereby his appeal, challenging assessment order dated 26.12.2016, relating to the assessment year 2014-15, was partly allowed, as regard ground No. 3, but dismissed, as regards ground Nos. 1 and 2, which related to long term capital gains.
Sunil Choudhary, Jaipur.
Today, Ld. AR for the appellant-assessee has presented copy of Form 4 and submitted that the assessee-appellant, having already taken steps for settlement under the provisions of Direct Taxes Vivad Se Vishwas Scheme, 2024, this appeal may be dismissed as having been withdrawn.
Ld. DR for the department has no objection to said submission put forth on behalf of the assessee-appellant.
Since the assessee-appellant has already taken steps and applied for settlement under Direct Taxes Vivad Se Vishwas Scheme, 2024, and today, copy of Form 4, issued by the competent authority, has also been presented, as prayed, this appeal is hereby dismissed as having been withdrawn.