SH. GURMEET SINGH,JAIPUR vs. ITO, WARD-5(2), JAIPUR, JAIPUR

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ITA 1548/JPR/2024Status: DisposedITAT Jaipur26 February 2025AY 2016-17Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)1 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had filed an application to withdraw the appeal, as they intended to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024. The appeal was accordingly dismissed as withdrawn.

What were the facts?

The assessee filed an appeal challenging an order that allowed their appeal only in part. The AO had computed total income by making an addition on account of duty drawback and computing net profit at 8% under Section 44AD of the Act.

What were the issues?

Whether the appeal can be dismissed as withdrawn on the assessee's application to settle the dispute under the Vivad Se Vishwas Scheme, 2024.

Which sections of the Income-tax Act were involved?

Section 250,Section 44AD

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JAIPUR BENCHES, “SMC-Bench” JAIPUR

Before: SHRI GAGAN GOYAL, AM & SHRI NARINDER KUMAR, JM vk;djvihy la-@ITA No. 1548/JP/2024

vkns'k@ORDER PER: NARINDER KUMAR, JUDICIAL MEMBER The assessee is in appeal, while challenging impugned order dated 16-12- 2024 passed by Ld. Addl. CIT(A)-1, Gurugram, u/s 250 of Income Tax Act, 1961 ( in short “the Act”), relating to the assessment year 2016-17, as thereby the appeal filed by him challenging assessment order dated 20-12-2018 has been allowed only in part, in the manner indicated therein.

SHRI GURMEET SINGH VS ITO, WARD 5(2), JAIPUR 2 The assessee deals in export sales. Vide assessment order, the AO computed the total income of the assessee at Rs.7,36,470/- by making an addition of Rs.3,94,737/- on account of duty draw back, allowing deduction of Rs.79,905/- under Chapter VIA, and computing the net profit @ 8%, to the tune of Rs.4,21,640/-, u/s 44AD of the Act.

3.

Today, the appeal has been put up alongwith an application dated 17-01- 2025 submitted on behalf of the appellant. In the application, the prayer is that this appeal be dismissed as having been withdrawn, as the appellant has moved appropriate application for settlement of the dispute availing of benefit of Direct Tax Vivad Se Vishwas Scheme, 2024. At the same time, it has been requested that the appellant be granted liberty to get the appeal revised, in case of no settlement under the Scheme i.e. Direct Tax Vivad Se Vishwas Scheme, 2024.

4.

Alongwith the application, copy of Form No. 2 has been submitted. Form No. 4 is stated to have not so far been issued.

5.

Having regard to the prayer in the application and that the appellant intends to get the matter settled under Direct Tax Vivad Se Vishwas Scheme, 2024, as requested, and as not opposed to, this appeal deserves to be dismissed as having been withdrawn.

SHRI GURMEET SINGH VS ITO, WARD 5(2), JAIPUR Result 6. As a result, this appeal is dismissed as having been withdrawn . However, it is made clear that in case no settlement is arrived at under the said Scheme, the assessee -appellant shall be at liberty to file appropriate application for restoration of the appeal, and that too in accordance with law.

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