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Facts
The assessee, International Timber Traders, filed an appeal against the Commissioner of Income-tax (Appeals)'s order for Assessment Year 2005-2006. During the appeal proceedings, the assessee submitted an application to withdraw the appeal, stating that they had opted for the Vivad Se Vishwas Scheme 2024 (VSVS 2024).
Held
The Tribunal dismissed the appeal as withdrawn, acknowledging the assessee's decision to settle the dispute under VSVS 2024. The Tribunal granted liberty to the assessee to seek reinstatement of the appeal if the matter is not settled under the VSVS scheme.
Key Issues
Whether an appeal can be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme 2024, with a provision for reinstatement if the settlement is unsuccessful.
Sections Cited
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Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Before: Shri Inturi Rama Rao & Shri Prakash Chand Yadav
Asst.Year 2005-2006 International Timber Traders The Income Tax Officer XXXVI/180, Thykoodam Ward 2(2) v. Vyttila, Cochin – 682 019. Ernakulam. PAN : AAAFI5626E. (Appellant) (Respondent) Appellant by :--- None --- Respondent by : Smt.Leenalal, Sr.AR Date of Pronouncement : 22.01.2025 Date of Hearing : 30.12.2024 O R D E R
Per Prakash Chand Yadav, JM :
The present appeal of the assessee is arising from the order of the learned Commissioner of Income-tax (Appeals) dated 29th March, 2023 and it relates to the assessment year 2005-2006, having DIN & Order No.ITBA/NFAC/S/250/2023- 24/1055166256(1).
Today, the assessee has sent one application for withdrawal of appeal on the ground that the assessee has opted for VSVS 2024 and the assessee would like to withdraw this appeal.
The learned Departmental Representative could not object to the withdrawal of the appeal.
. International Timber Traders. 4. In view of the fact that the assessee has opted for VSVS 2024, we are dismissing the appeal as withdrawn, with a liberty to the assessee in case its dispute is not settled in VSVS, then the assessee may request the Tribunal for reinstatement of its appeal in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.
In the result, the appeal filed by the assessee is dismissed as indicated above.
Order pronounced on this 22nd day of January, 2025.