MUNNANGI SEAFOODS PVT LTD,ONGOLE vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-2(1), GUNTUR

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ITA 151/VIZ/2024Status: DisposedITAT Visakhapatnam11 March 2025AY 2017-18Bench: Shri Manjunatha G. (Accountant Member), Shri K. Narasimha Chary, Judicial Member आ.अपी.सं / ITA No.151/Viz/2024 (निर्धारण वर्ष/Assessment Year: 2017-18) | Munnangi Seafoods Pvt.Ltd. Ongole [PAN : AAHCM5563A] | Vs. ACIT Circle-2(1) Guntur | |---|---| | (Appellant) | (Respondent) | निर्धारिती द्वारा /Assessee by: | Smt A.Aruna, AR (through Hybrid hearing) | राजस्व द्वारा / Revenue by:: | Dr.Satyasai Rath, CIT(DR) | सुनवाई की तारीख / Date of hearing: | 11/03/2025 | घोषणा की तारीख / Date of Pro3 pages

AI SummaryDismissed

Facts

The assessee, Munnangi Seafoods Pvt. Ltd., filed an appeal for A.Y. 2017-18 against an order of the NFAC. Subsequently, the assessee filed a petition to withdraw the appeal, stating that the tax dispute had been settled under the Vivad Se Vishwas Scheme, 2024, and Form 2 had been issued by the competent authority.

Held

The Income Tax Appellate Tribunal dismissed the appeal as withdrawn, acknowledging the settlement of the tax dispute under the Vivad Se Vishwas Scheme, 2024. The Tribunal also granted the assessee liberty to apply for reinstatement of the appeal if the Vivad Se Vishwas application is rejected for any reason.

Key Issues

The primary issue was whether the appeal should be allowed to be withdrawn based on the settlement under the Vivad Se Vishwas Scheme, 2024, and the conditions for such withdrawal.

Sections Cited

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH

Before: Shri Manjunatha G. & Shri K. Narasimha Chary

Hearing: 11/03/2025

(निर्धारण वर्ा/Assessment Year: 2017-18) Munnangi Seafoods Vs. ACIT Pvt.Ltd. Circle-2(1) Ongole Guntur [PAN : AAHCM5563A] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Smt A.Aruna, AR (through Hybrid hearing) रधजस् व द्वधरध/Revenue by:: Dr.Satyasai Rath, CIT(DR) सुिवधई की तधरीख/Date of hearing: 11/03/2025 घोर्णध की तधरीख/Date of 11/03/2025 Pronouncement: आदेश / ORDER PER. MANJUNATHA G., A.M: This appeal filed by the assessee is directed against the order dated 12.02.2024 of the learned Commissioner of Income Tax (Appeals) [Learned CIT(A)], National Faceless Appeal Centre (NFAC), Delhi, relating to A.Y.2017-18.

At the outset, the learned Counsel for the assessee has filed a petition dated 10.03.2025 for withdrawal of the appeal on the ground that the appellant has settled the tax dispute under Vivad Se Vishwas Scheme, 2024 and claimed that the competent Munnangi Seafoods Pvt.Ltd. authority has issued Form No.2 on 06.03.2025 under the Scheme. She further submitted that the appeal filed by the assessee may be dismissed with a liberty to reinstate the appeal, in case, for any reason, the application filed by the assessee under Vivad Se Vishwas Scheme, 2024 is rejected by the competent authority.

The Ld.DR present for the revenue did not raise any objection for withdrawal of the appeal filed by the assessee.

We have heard both the parties and considered the relevant petition filed by the assessee dated 10.03.2025 for withdrawal of the appeal. We find that the appellant has filed application under Vivad Se Vishwas Scheme, 2024 and the competent authority has issued Form 2 and determined the total tax payable under the Direct Tax Vivad Se Vishwas Scheme, 2024. Since the assessee has settled the dispute under the Vivad Se Vishwas Scheme, 2024 and also filed a petition for withdrawal of the appeal, we dismiss the appeal filed by the assessee as withdrawn. We have also given liberty to the appellant to file an application for reinstatement of appeal, in case for any reason, the application filed by the assessee under Vivad Se Vishwas Scheme, 2024 is rejected.