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Facts
The assessee filed appeals against separate orders of the Commissioner of Income Tax (Appeals) for assessment years 2018-19 to 2021-22. During the hearing, the assessee's counsel informed the Tribunal that the appeals were being withdrawn to pursue settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV).
Held
The Tribunal permitted the assessee to withdraw the appeals. It granted liberty to the assessee to revive the appeals if the application in Form No. 1 under DTVSV is rejected for any reason. Consequently, the appeals were dismissed as withdrawn.
Key Issues
Whether the Income Tax Appellate Tribunal should permit the assessee to withdraw its appeals to avail the Direct Tax Vivad Se Vishwas Scheme, 2024, and under what conditions.
Sections Cited
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Income Tax Appellate Tribunal, COCHIN BENCH
Before: SHRI GEORGE GEORGE K., VP & SHRI INTURI RAMA RAO, AM
O R D E R Per: Inturi Rama Rao, AM These appeals filed by the assessee is directed against separate orders of the Commissioner of Income Tax (Appeals)-18, Chennai [CIT(A)] (all the orders dated 30.08.2024) for assessment years 2018-19 to 2021-22.
When the matter was called on, the learned counsel for the assessee stated that the assessee filed a letter dated 02.04.2025 stating that the appellant intends to withdraw the appeals, as the to 1026/Coch/2024 Insight Media City (India) Pvt. Ltd. issue in the appeals is sought to be settled through Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV). Accordingly, we permit the assessee to withdraw the appeals with liberty to revive the appeals, in the event the application in Form No. 1 under DTVSV comes to be rejected, for any reason.
In the result, appeals filed by the assessee are dismissed as withdrawn.
Order pronounced in the open court on 8th April, 2025. 4.