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Facts
The assessee, Goverdhan Lal Rastogi Jewellers Pvt. Ltd., appealed against an order dated March 1, 2024. At the time of hearing, the assessee's counsel informed the bench that the assessee had opted for the Direct Tax Vivad Se Vishwas Scheme, 2024.
Held
The assessee's counsel requested to withdraw the appeal due to participation in the Vivad Se Vishwas Scheme. The Departmental Representative raised no objection. The Tribunal, considering the facts, dismissed the appeal as withdrawn.
Key Issues
Whether the assessee should be allowed to withdraw the appeal due to opting for the Vivad Se Vishwas Scheme, 2024.
Sections Cited
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Income Tax Appellate Tribunal, KOLKATA-PATNA ‘e-COURT’, KOLKATA
Before: Shri Duvvuru RL Reddy, Vice-(KZ) & Shri Sanjay Awasthi
Per Duvvuru RL Reddy, Vice-President(KZ):- The present appeal is directed at the instance of assessee against the order of ld. Commissioner of Income Tax (Appeals), Patna-3 dated 1st March, 2024 passed for Assessment Year 2020- 21.
(A.Y. 2020-2021) Goverdhan Lal Rastogi Jewellers Pvt. Ltd.
At the time of hearing, it was pointed out by the ld. Counsel for the assessee that the assessee has already gone into Direct Tax Vivad Se Vishwas Scheme, 2024 (‘DTVSVS 2024’ Scheme) by filing Declarations with the Competent Authority and Form No. 4 has been issued by the Department. and therefore, prayed before the Bench that the assessee may be allowed to withdraw the appeal.
On the other hand, ld. Departmental Representative has not raised any objection to withdraw the appeal.
We have heard the rival submissions and perused the material available on record. By considering the totality of the facts and circumstances of the case, we dismiss the appeal of the assessee with the liberty to the assessee to get the appeal revived by filing necessary miscellaneous application if the assessee is not successful in the VSVS-24, for any reason, whatsoever.
In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open Court on 17/02/2025.