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Facts
The assessee, Munnangi Seafoods Pvt. Ltd., filed an appeal against an order of the Commissioner of Income Tax (Appeals) for A.Y. 2018-19. During the hearing, the assessee's counsel requested to withdraw the appeal to avail the Direct Tax "Vivad Se Vishwas Scheme, 2024".
Held
The Tribunal dismissed the appeal as withdrawn, granting the assessee the liberty to file a Miscellaneous Application to reinstate the appeal if their case is not accepted under the Vivad Se Vishwas Scheme 2024 by the Revenue.
Key Issues
Whether the Income Tax Appellate Tribunal should permit the withdrawal of an appeal by the assessee to opt for the Direct Tax "Vivad Se Vishwas Scheme, 2024" with a provision for reinstatement if the scheme is not availed.
Sections Cited
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Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH
Before: SHRI LALIET KUMAR & SHRI BALAKRISHNAN. S
O R D E R PER LALIET KUMAR, J.M.
This appeal is filed by the assessee feeling aggrieved by the order passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 12.02.2024 for the A.Y. 2018-19.
At the outset, the Learned Counsel for the assessee submitted that the assessee wishes to avail Direct Tax “Vivad Se Vishwas Scheme, 2024" and hence, would like to withdraw this appeal.
After hearing both the parties, we dismiss the appeal of the assessee with a liberty to approach the Tribunal if assessee's case is not accepted in Vivad se Vishwas Scheme 2024 by the Revenue for whatsoever may be the reason, then the assessee shall be at liberty to file Miscellaneous Application before the Tribunal within the time limit prescribed under the Act to reinstate assessee's appeal. Ordered accordingly.
In the result, the appeal of the assessee is dismissed as 'withdrawn'.