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Facts
The assessee filed an appeal against an order of the CIT(A) for Assessment Year 2017-18. Subsequently, the appellant submitted a letter indicating an intention to withdraw the appeal to settle the issue under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV).
Held
The Income Tax Appellate Tribunal permitted the assessee to withdraw the appeal, granting liberty to revive it if the DTVSV application is rejected. Consequently, the appeal was dismissed as withdrawn.
Key Issues
Whether to allow the assessee to withdraw the appeal for settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024, with a provision to revive it if the scheme application is rejected.
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 29.02.2024 for Assessment Year (AY) 2017-18.
When the matter was called it is found from the record that the appellant filed a letter dated 30.12.2024 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 Ranjith Thachuparambil Sankarankutty (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.
In the result, appeal filed by the assessee is dismissed as withdrawn.
Order pronounced in the open court on 19th February, 2025. 4.