SUNDARESH SARVOTHAMA KAMATH,KOCHI vs. ACIT CIRCLE 1(1) , KOCHI

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ITA 300/COCH/2023Status: DisposedITAT Cochin19 February 2025AY 2017-182 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw the appeal, granting liberty to revive it if the application under the Direct Tax Vivad Se Vishwas Scheme (DTVSV) is rejected. Consequently, the appeal was dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against the order of the Pr. Commissioner of Income Tax, Kochi, for Assessment Year 2017-18. During the hearing, the assessee's counsel submitted a letter expressing the intention to withdraw the appeal, as the issue was to be settled through the Direct Tax Vivad Se Vishwas Scheme, 2024.

What were the issues?

Whether to allow the assessee to withdraw an appeal for settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024, with a provision for revival upon rejection of the scheme application.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH

Before: SHRI INTURI RAMA RAO, AM & SHRI KESHAV DUBEY, JM

For Respondent: Shri Sanjit Kumar Das, CIT-DR
Hearing: 27.01.2025Pronounced: 19.02.2025

O R D E R Per: Inturi Rama Rao, AM This appeal filed by the assessee is directed against the order of the Pr. Commissioner of Income Tax1, Kochi, dated 23.03.2022 for Assessment Year (AY) 2017-18.

2.

When the matter was called the learned counsel for the assessee filed a letter dated 27.01.2025 stating 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 Sundareh Sarvothama Kamath V. (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 came to be rejected for any reason.

3.

In the result, appeal filed by the assessee is dismissed as withdrawn.

Order pronounced in the open court on 19th February, 2025. 4.

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