PANASONIC AVC NETWORKS INDIA CO. LTD.,NOIDA vs. JCIT, SPL. RANGE-7, NEW DELHI

This appeal by the assessee is directed against the assessment order passed u/s 143(3) read with section 144C of the Income-tax Act, 1961 dated 30.09.2019, for the Assessment Year 2015-16. 2. The ld. Authorised Representative of the assessee furnished an application by the assessee dated 27.12.2024 for withdrawal of appeal as the assessee has settled the issue under Vivad Se Vishwas Scheme, 2024 (in short ‘VSVS’). The assessee alongwith application has also furnished a copy of Form No.2 received from the 2 Department. In view of the aforesaid application, appeal of the assessee is dismissed as withdrawn. 3. Liberty is granted to the assessee to revive appeal in the event application filed by the assessee under VSVS fails to mature. It is further made clear that if the assessee/appellant seeks to restore the appeal in the event assessee’s declaration made under VSVS is not accepted, the Registry shall not insist for filing of application for condonation of delay, if the Miscellaneous Application for recalling the order is filed beyond time on account of delay in communication of outcome under VSVS. [Revenue. M/s. Nannusamy Mohan (HUF) vs. ACIT in T.C.A. No.372 of 2020 decided on 16.10.2020 by Hon’ble Madras High Court.] 4. In the result, appeal of the assessee is dismissed in the terms aforesaid. Order pronounced in the open court on Friday, the 10TH day of January, 2025 after the conclusion of hearing. Dated: 10.01.2025 TS