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Facts
The assessee filed appeals against the orders of the National Faceless Appeal Centre for Assessment Years 2004-05 and 2005-06. During the hearing, the assessee expressed an intention to withdraw these appeals to settle the underlying tax disputes through the Direct Tax Vivad Se Vishwas Scheme, 2024.
Held
The Tribunal permitted the assessee to withdraw the appeals. It granted liberty to the assessee to revive these appeals if their application under the DTVSV Scheme (Form No. 1) is rejected for any reason.
Key Issues
Whether to permit the assessee to withdraw appeals for the purpose of availing the Direct Tax Vivad Se Vishwas Scheme, 2024, with a provision for revival 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 PRAKASH CHAND YADAV, JM
O R D E R Per: Inturi Rama Rao, AM This appeals filed by the assessee are directed against the orders of the National Faceless Appeal Centre, Delhi [CIT(A)], both dated 25.05.2023 for Assessment Years (AYs) 2004-05 & 2005-06.
When the matter was called the learned counsel for the assessee filed a letter stating that the appellant intends to withdraw the appeals, as the issue in the appeal is sought to be settled through & 379/Coch/2023 Sherafudheen Theyyampattil Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV). Accordingly, we permit the assessee to withdraw the appeals 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In the result, appeals filed by the assessee are dismissed as withdrawn.
Order pronounced in the open court on 4th February, 2025.