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Facts
The assessee preferred an appeal against the order passed by the Ld. Commissioner of Income Tax (Appeals)/NFAC. The assessee, intending to settle the dispute, filed Form No.1 under the Direct Tax Vivad Se Vishwas Scheme, 2024. Revenue authorities issued Form Nos. 2 & 3, and the assessee agreed to deposit the determined amount.
Held
The Revenue's appeal was dismissed as withdrawn because the assessee had taken steps to settle the dispute under the Vivad Se Vishwas Scheme. The Revenue was granted liberty to seek recalling of the order if the dispute was not settled.
Key Issues
Whether the Revenue's appeal should be dismissed as withdrawn given the assessee's participation in the Vivad Se Vishwas Scheme for dispute resolution.
Sections Cited
250 of the Income Tax Act, 1961, Direct Tax Vivad Se Vishwas Scheme, 2024
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Income Tax Appellate Tribunal, NAGPUR BENCH : NAGPUR
Before: SHRI NARENDER KUMAR CHOUDHRY & SHRI K.M. ROY
ORDER PER NARENDER KUMAR CHOUDHRY, JM:
This appeal has been preferred by the assessee against the order dated 24/05/2024 impugned herein passed by the Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi [in short, “Ld.Commissioner”] u/sec. 250 of the Income Tax Act, 1961 (for short, “the Act”) for the Assessment Year (for short, “AY”) 2014-15.
2 ITA.No. 411/NAG/2024 2. The assessee with an intention to settle the dispute, has already been filed Form No.1 under Direct Tax Vivad Se Vishwas Scheme , 2024 (for short, “VSV Scheme, 2024”) and the Revenue authorities have issued Form Nos. 2 & 3 and the assessee is ready to deposit the requisite amount to be determined by the Revenue authorities. Therefore, the Revenue’s appeal is dismissed as withdrawn, however, liberty to the Revenue to seek recalling of this order on non–settling the dispute.
In the result, appeal of the Revenue is dismissed with the aforesaid liberty. Order pronounced in the open Court on 24.06.2025.