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Facts
The assessee, Jai Hind Traders, filed an appeal against an order of the CIT(A) for Assessment Year 2016-17. During the proceedings, the assessee requested to withdraw the appeal, stating that it had opted for the Vivad Se Vishwas Scheme (VSVS) 2024.
Held
The Tribunal dismissed the appeal as withdrawn, noting that the Senior Departmental Representative had no objection. The Tribunal granted the assessee liberty to revive the appeal if the declaration filed under the VSVS 2024 scheme is rejected for any reason.
Key Issues
Whether an appeal can be withdrawn by the assessee after opting for the Vivad Se Vishwas Scheme 2024, and the conditions for such withdrawal.
Sections Cited
250
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Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Before: Shri George George K, Vice- & Shri Inturi Rama Rao
:Asst.Year 2016-2017 Jai Hind Traders The Income Tax Officer 29/621, K, Jain Tower v. Non-Corporate Ward 2(1) Opp :KSEB Power House Kochi. Vyttila Ernakulam – 682 019. PAN : AABFJ7099K. (Appellant) (Respondent) Appellant by : --- None --- Respondent by : Smt.Leena Lal, Sr.AR Date of Date of Hearing :07.04.2025 Pronouncement : 07.04.2025 O R D E R
Per George George K, Vice-President :
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 11.09.2024 passed u/s. 250 of Income Tax Act, 1961 ("the Act" hereinafter). The relevant assessment year is 2016-2017.
At the outset, we noticed that the assessee has placed a letter dated 17th January, 2025 praying for withdrawal of its appeal as the assessee has opted for the scheme of VSVS 2024.
In view of the fact that the assessee has opted for VSVS 2024, we dismiss this appeal filed by the assessee as withdrawn with the liberty to the assessee to revive appeal before the Tribunal, if the declaration filed comes to be rejected for any reason whatsoever.
In the result, the appeal filed by the assessee is dismissed.
Order pronounced on this 07th day of April, 2025.