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Facts
The assessee filed an appeal against an assessment order for AY 2013-14 passed under Section 147 read with Section 144C(13) of the Income Tax Act, 1961. The assessee expressed intent to withdraw the appeal to settle the issues through the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV), a request to which the revenue had no objections.
Held
The tribunal granted permission for the assessee to withdraw the appeal, with the provision that the appeal could be revived or reinstated if the DTVSV application is rejected. Consequently, the appeal filed by the assessee was dismissed as withdrawn.
Key Issues
Whether the assessee should be allowed to withdraw the appeal to pursue settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024.
Sections Cited
147, 144C(13)
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Income Tax Appellate Tribunal, COCHIN BENCH:COCHIN
Before: SHRI INTURI RAMA RAO & SHRI KESHAV DUBEY
O R D E R PERKESHAV DUBEY, JUDICIAL MEMBER: This appeal at the instance of the assessee is directed against the order of ITO Ward Int. Tax, Kochi dated 21.3.2024 vide DIN & Order No. ITBA/AST/S/147/2023-24/1063090970(1) for the AY 2013-14 passed u/s 147 r.w.s. 144C(13) of the Income Tax Act, 1961 (in short “The Act”).
When the matter was called on, the ld. Counsel for the assessee submitted that the assessee intends to withdraw the appeal, as the issues in the appeal is sought to be settled through the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV). The revenue has also no objections for withdrawal of the appeal as requested by the assessee.
Accordingly, we permit the assessee to withdraw the appeal with liberty to revive/reinstate the appeal, in the event the application in Form No.1 under DTVSV is rejected for any reason. Accordingly, we dismiss the appeal filed by the assessee as withdrawn.
In the result, appeal filed by the assessee is dismissed as withdrawn.