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Facts
The assessee filed an appeal against the CIT(A)'s order for Assessment Year 2017-18. During the hearing, the assessee's counsel sought to withdraw the appeal, indicating that the underlying issue was intended to be settled under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV).
Held
The tribunal allowed the assessee to withdraw the appeal, granting liberty to revive it should the application under the DTVSV scheme be rejected. Consequently, the appeal was dismissed as withdrawn.
Key Issues
Whether the assessee's request to withdraw the appeal to pursue settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024, should be granted.
Sections Cited
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Income Tax Appellate Tribunal, COCHIN BENCH
Before: SHRI INTURI RAMA RAO, AM & SHRI KESHAV DUBEY, JM
O R D E R Per: Inturi Rama Rao, AM This appeal filed by the assessee is directed against the order of the National Faceless Appeal Centre, Delhi [CIT(A)], dated 18.12.2023 for Assessment Year (AY) 2017-18.
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 Molley Jayaprakash Vivad Se Vishwas Scheme, 2024 (DTVSV). Accordingly, we permit the assessee to withdraw the appeal with liberty to revive the appeal, in the event the application in Form No. 1 under DTVSV comes to be rejected, for any reason.
In the result, appeal filed by the assessee is dismissed as withdrawn.
Order pronounced in the open court on 18th March, 2025. 4.