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Facts
The assessee filed appeals against the orders of the National Faceless Appeal Centre for AYs 2004-05 & 2005-06. The assessee's counsel sought to withdraw these appeals, intending to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV).
Held
The Tribunal permitted the assessee to withdraw the appeals, granting liberty to revive them if their application under the DTVSV scheme is rejected. Consequently, the appeals were dismissed as withdrawn.
Key Issues
Whether the appeals should be permitted to be withdrawn for opting into the DTVSV scheme, with an allowance for their revival if the scheme application is rejected.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In the result, appeals filed by the assessee are dismissed as withdrawn.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.