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Facts
The assessee filed an appeal against the order of the National Faceless Appeal Centre (CIT(A)) for Assessment Year 2016-17. During the hearing, the assessee submitted a letter expressing the intention 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. It further granted liberty to the assessee to revive the appeal if the application filed under Form No. 1 of the DTVSV Scheme is rejected for any reason. Consequently, the appeal was dismissed as withdrawn.
Key Issues
Whether to allow the withdrawal of the appeal based on the assessee's intention to opt for the Direct Tax Vivad Se Vishwas Scheme, 2024, and the conditions for such withdrawal, specifically the right to revive the appeal if the DTVSV 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 appeal filed by the assessee is directed against the order of the National Faceless Appeal Centre, Delhi [CIT(A)] dated 22.03.2024 for Assessment Year (AY) 2016-17.
At the time of hearing it is noticed that the learned counsel for the assessee had filed a letter from the assessee dated 12.12.2024 stating that the appellant intends to withdraw the appeal, as the issue Mathew Mathew Vazhathara in the appeal is sought to be settled through Direct Tax Vivad Se Vishwas 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In the result, appeals filed by the assessee are dismissed as withdrawn.
Order pronounced in the open court on 21st January, 2025.