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Facts
The Nemmara Co-op Urban Bank filed appeals against orders of the Commissioner of Income-tax (Appeals) for assessment years 2013-2014, 2016-2017, and 2017-2018. The assessee requested to withdraw these appeals as it had opted for the VSVS 2024 scheme, and there was also a delay of 77 days in filing them.
Held
The Tribunal dismissed the appeals as withdrawn, granting the assessee liberty to seek reinstatement if the dispute is not settled under VSVS 2024. The delay in filing the appeals was deemed insignificant, as the assessee's decision to opt for VSVS 2024 rendered the condonation issue academic.
Key Issues
Whether appeals should be allowed to be withdrawn upon the assessee opting for the VSVS 2024 scheme, and the implications for associated stay petitions and the condonation of delay.
Sections Cited
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Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Before: Shri Inturi Rama Rao & Shri Prakash Chand Yadav
Asst.Year 2013-2014 SA No.170/Coch/2024 : Asst.Year 2016-2017 SA No.171/Coch/2024 : Asst.Year 2017-2018 SA No.172/Coch/2024 The Nemmara Co-op Urban Bank The Income Tax Officer XV/182, M.G.Road, Nemmara Ward 5 v. Palakkad – 678 508. Palakkad. PAN : AAAAT7124K. (Appellant) (Respondent) Appellant by : Sri.Amaljith, CA Respondent by : Smt.Leena Lal, Sr.AR Date of Pronouncement : 07.02.2025 Date of Hearing : 08.01.2024 O R D E R Per Prakash Chand Yadav, JM : These appeals and as many as stay petitions are arising from the orders of the learned Commissioner of Income-tax (Appeals) and it relates to the assessment years 2013-2014, 2016-2017 and 2017-2018, respectively.
At the very outset, the learned Counsel for the assessee submitted that the assessee wants to withdraw its appeals on the ground that the assessee has opted for VSVS 2024.
In view of the fact that the assessee has opted for VSVS 2024, we are dismissing the appeals as withdrawn, with a liberty to the assessee in case its dispute is not settled in VSVS, then the assessee may request the Tribunal for reinstatement of its appeal in accordance with law. Since the appeals are disposed of, the stay petitions become infructuous and accordingly dismissed.
Further, there was delay of 77 days in filing these appeals before the Tribunal. Since the assessee has opted for VSVS 2024, and there is no loss of revenue to the department, there is no significance in dealing with the condonation of delay.
In the result, the appeals as well as the stay petitions filed by the assessee are dismissed. Order pronounced on this 07th day of February, 2025.