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Facts
The assessee filed an appeal for the assessment year 2017-18. During the course of hearing, the assessee's Authorized Representative (AR) prayed for withdrawal of the appeal as the assessee opted to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024.
Held
The Tribunal noted that the assessee is interested in withdrawing the appeal due to settlement under the Vivad Se Vishwas Scheme. The Bench allowed the withdrawal and granted liberty to the assessee to apply for restoration if the settlement is not finalized.
Key Issues
Whether the appeal can be withdrawn by the assessee on the ground of settling the dispute under the Vivad Se Vishwas Scheme.
Sections Cited
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, JAIPUR BENCHES,’’SMC” JAIPUR
Before: SHRI RATHOD KAMLESH JAYANTBHAI, AM & SHRI NARINDER KUMAR, JM vk;dj vihy la-@ITA No.1201/JP/2024
ORDER PER: RATHOD KAMLESH JAYANTBHAI, AM This appeal filed by the assessee is directed against the order of the ld. CIT(A) dated 26-07-2024, National Faceless Appeal Centre, Delhi [ hereinafter referred to as (NFAC) ] for the assessment year 2017-18 raising the grounds appeal as mentioned at Form 36. 2.1 During the course of hearing, the ld. AR of the assessee has prayed for withdrawal of the appeal vide application dated 06-01-2025 on the ground as under:- ‘’…it is to submit that the assessee wants to withdraw the above appeal since he has opted to settle the dispute under Direct Tax Vivad Se Vishwas Scheme, 2024 for which Form No.2 has been issued by the PCIT-2, Jaipur. Copy of Form No.2 is enclosed for ready reference.