PRATHEESH VENKATARAMAN,PALAKKAD vs. ACIT, CIRCLE 1, PALAKKAD

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ITA 248/COCH/2023Status: DisposedITAT Cochin19 February 2025AY 2019-20Bench: Shri Inturi Rama Rao (Accountant Member), Shri Prakash Chand Yadav (Judicial Member)2 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the appeals as withdrawn, acknowledging the assessee's option for VSVS 2024. A liberty was granted to the assessee to request reinstatement of the appeals if the dispute is not settled under VSVS in accordance with law.

What were the facts?

The assessee filed appeals against the Commissioner of Income-tax (Appeals) orders for assessment years 2015-16 and 2019-20. The assessee's counsel informed the Tribunal that the assessee has opted for the Vivad se Vishwas Scheme (VSVS) and wished to withdraw the appeals.

What were the issues?

Whether the appeals filed by the assessee should be dismissed as withdrawn due to the assessee opting for the Vivad se Vishwas Scheme (VSVS).

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

Hearing: 21.01.2025Pronounced: 19.02.2025

Heard together (2 matters)

ITA No.247/Coch/2023
ITA No.248/Coch/2023

Read from the judgment's own cause title. This page is filed under one of them.

:Asst.Year 2019-2020 Sri.PratheeshVenkataraman The Assistant Commissioner 39/700 Tailor Street, of Income-tax, Circle – 1 Vs. Palakkad – 678 001. Palakkad. PAN : ACVPV6807H. (Appellant) (Respondent) Appellant by:Sri.K.V.Padmanthan, Advocate Respondent by:Smt.Leena Lal, Sr.AR Date of Pronouncement : 19.02.2025 Date of Hearing : 21.01.2025 O R D E R

Per Prakash Chand Yadav, JM :

1.

The present appeals filed by the assessee are arising from the order of the Commissioner of Income-tax (Appeals) and it relates to assessment years2015-2016 and 2019-2020, having DIN & Order No. ITBA/NFAC/S/250/2022-23/ 1050279841(1) dated 01.03.2023 and ITBA/NFAC/S/250/2022-23/ 1050600184(1) dated 10.03.2023, respectively.

2.

At the outset, it has been pointed out by the learned Counsel for the assessee that the assessee has opted for VSVS and is going with withdraw its appeals from the Tribunal. In view of this, we dismiss the appeals filed by the assessee as withdrawn.

& 248/Coch/2023. Sri.PratheeshVenkataraman. 2. The assessee has sent one application dated 7.01.2025 forwithdrawal of appeals on the ground that the assessee has opted for VSVS 2024 and the assessee would like to withdraw its appeals.

3.

The learned Departmental Representative could not object to the withdrawal of the appeals.

4.

In view of the fact that the assessee has opted for VSVS2024, we are dismissing the appeals as withdrawn, with aliberty to the assessee in case its dispute is not settled inVSVS, then the assessee may request the Tribunal forreinstatement of its appeals in accordance with law.

5.

In the result, the appeals filed by the assessee are dismissedas indicated above.

Order pronounced on this 19th day of February, 2025.

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