SILVER PALACE CO OPERATIVE HOUSING SERVICE SOCIETY LIMITED,SURAT vs. ITO WARD 2(3)(4), SURAT, SURAT

This appeal by the assessee emanates from the order passed under section 250 of the Income-tax Act, 1961 (in short, ‘the Act’), dated 01.02.2024 by the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, Delhi [in short ‘CIT(A)’] for the Assessment Year (AY) 2017-18.

At the outset, learned Counsel for the assessee submits that the assessee has applied for the benefits of Direct Vivad se Visvas Scheme -2024 (DTVSV-24) and his application has been accepted. The learned counsel for the assessee further submits that he may be allowed to withdraw this appeal. He has also filed copy of Form No. 2 of DVSV-24, which was issued by the Designated Authority on 24.01.2025. This fact was confronted with learned Senior-departmental representative of the revenue. The Id.Sr-DR for the Revenue submits that he has no objection, if the appeal of the assessee is dismissed as "withdrawn".

We have heard both parties and perused the application of assessee for withdrawal of appeal. Considering the prayer of assessee, the appeal of the assessee is dismissed as "withdrawn" with liberty to the assessee as well as to the revenue that in case the application preferred by the assessee under DVSV-2024 does not get finally settled for any reason whatsoever, then both the parties are at liberty to prefer Miscellaneous Application before this Tribunal for restoration of the appeal or any further direction and in such event, the appeal shall get restored. The Assessing Officer is directed to pass the consequential order.