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Facts
The assessee filed an appeal against the CIT(A)'s order for AY 2014-15. Subsequently, the assessee requested to withdraw the appeal to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV).
Held
The tribunal permitted the assessee to withdraw the appeal with the liberty to revive it if the DTVSV application in Form No. 1 is rejected. Consequently, the appeal was dismissed as withdrawn.
Key Issues
Whether to allow the assessee to withdraw the appeal to pursue settlement under 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 & SHRI PRAKASH CHAND YADAV, JM
O R D E R Per: Inturi Rama Rao, AM This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Appeals)-3, Kochi [CIT(A)], dated 02.12.2021 for Assessment Year (AY) 2014-15.
At the outset we find that 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 Anil Kumar Sharma Scheme, 2024 (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In the result, appeal filed by the assessee is dismissed as withdrawn.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 4th February, 2025.