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Facts
The assessee filed an appeal against an order from the National Faceless Appeal Centre (NFAC) for Assessment Year 2012-13. Subsequently, the assessee requested to withdraw the appeal, citing an intention to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV).
Held
The Tribunal permitted the assessee to withdraw the appeal. It granted the assessee the liberty to revive the appeal if their application under the DTVSV Scheme is rejected. The appeal was accordingly dismissed as withdrawn.
Key Issues
Whether the assessee should be allowed to withdraw the appeal given their intent to resolve the matter through the Direct Tax Vivad Se Vishwas Scheme, 2024.
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 18.03.2024 for Assessment Year (AY) 2012-13.
When the matter was called on, the learned counsel for the assessee filed a letter 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 (DTVSV). Accordingly, I 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.
Order pronounced in the open court on 19th February, 2025. 4.