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Facts
The assessee filed an appeal against a CIT(A) order for Assessment Year 2017-18. During the hearing, the assessee's counsel requested to withdraw the appeal as the 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The Tribunal allowed the assessee to withdraw the appeal, dismissing it as withdrawn. However, the assessee was granted liberty to revive the appeal if their application under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV) is rejected.
Key Issues
Whether to allow the assessee to withdraw the appeal for settlement under the DTVSV Scheme, and if so, whether to grant liberty to revive it upon rejection of the DTVSV application.
Sections Cited
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Income Tax Appellate Tribunal, COCHIN BENCH
Before: SHRI INTURI RAMA RAO, AM
O R D E R This appeal filed by the assessee is directed against the order of the National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 27.07.2022 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 Vivad Se Vishwas Scheme, 2024 (DTVSV). Accordingly, we permit the assessee to withdraw the appeal with liberty to revive the appeal,
In the result, appeal filed by the assessee is dismissed as withdrawn.
Order pronounced in the open court on 19th February, 2025. 4.