PAMBA FUELS,THIRUVALLA vs. ITO,WARD 2, , THIRUVALLA

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ITA 971/COCH/2024Status: DisposedITAT Cochin09 April 2025AY 2017-2018Bench: Shri George George K (Vice President), Shri Inturi Rama Rao (Accountant Member)2 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The tribunal dismissed the appeal as withdrawn, noting no objection from the Senior Departmental Representative. It granted the assessee the liberty to revive the appeal if their declaration under the VSVS 2024 scheme is subsequently rejected for any reason.

What were the facts?

Pamba Fuels, the assessee, filed an appeal against an order from the CIT(A) for Assessment Year 2017-18, issued under Section 250 of the Income Tax Act, 1961. During the hearing, the assessee's counsel sought to withdraw the appeal, as the assessee had opted for the VSVS 2024 scheme.

What were the issues?

Whether an appeal can be withdrawn due to the assessee opting for a tax settlement scheme (VSVS 2024), and if so, what conditions for revival should be attached to such withdrawal.

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: Shri George George K, Vice- & Shri Inturi Rama Rao

Hearing: 09.04.2025

O R D E R

Per George George K, Vice-President :

1.

This appeal at the instance of assessee is directed against the order of the National Faceless Assessment Centre / Commissioner of Income Tax (Appeals) [“CIT(A)”] dated 16.10.2024 passed u/s. 250 of Income Tax Act, 1961 ("the Act" hereinafter). The relevant assessment year is 2017-2018.

2.

At the outset, the learned Counsel for the assessee has placed a letter dated 09th April, 2025 and submitted that the assessee wish to withdraw its appeal as the assessee has opted for the scheme of VSVS 2024.

4.

In view of the fact that the assessee has opted for VSVS 2024, we dismiss this appeal filed by the assessee as withdrawn with the liberty to the assessee to revive appeal before the Tribunal, if the declaration filed comes to be rejected for any reason whatsoever.

5.

In the result, the appeal filed by the assessee is dismissed.

Order pronounced on this 9th day of April, 2025.

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