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Facts
The assessee filed an appeal against an order from the Commissioner of Income Tax (Appeals)-3, Kochi for Assessment Year 2015-16. During the hearing, the assessee's counsel expressed an intention to withdraw the appeal, as the issue was to be settled through the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV).
Held
The tribunal permitted the assessee to withdraw the appeal. It dismissed the appeal as withdrawn, while granting the assessee liberty to revive the appeal if their application under the DTVSV is rejected for any reason.
Key Issues
Whether to allow the assessee to withdraw the appeal to pursue settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024, with a provision for revival if the scheme application is rejected.
Sections Cited
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Income Tax Appellate Tribunal, COCHIN BENCH
Before: SHRI INTURI RAMA RAO, AM & SHRI SOUNDARARAJAN K., JM
O R D E R Per Bench This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Appeals)-3, Kochi [CIT(A)], dated 29.12.2023 for Assessment Year (AY) 2015-16.
When the matter was called on, the learned counsel for the assessee submitted that the appellant intends to withdraw the appeal, as the issue in the appeal is sought to be settled through Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV). Accordingly, we permit the assessee to withdraw the appeal with liberty to revive the appeal,
In the result, appeal filed by the assessee is dismissed as withdrawn.
Order pronounced in the open court on 30th May, 2025.