Loading judgment…
Facts
The assessee filed an appeal against an assessment order for AY 2015-16. During the hearing, the assessee applied to withdraw the appeal, citing their decision to opt for "The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024." The Senior DR confirmed no objection to the withdrawal.
Held
The Tribunal, considering the assessee's request and the Revenue's non-objection, dismissed the appeal as withdrawn. However, it granted the assessee liberty to seek restoration of the appeal if they genuinely fail to avail the benefits of the DTVSV Scheme.
Key Issues
Whether the Tribunal should allow the withdrawal of an appeal when the assessee opts for the Direct Tax Vivad Se Vishwas Scheme, 2024, and the conditions for such withdrawal or potential restoration.
Sections Cited
Section 147 of Income Tax Act, 1961, Section 144C(13) of Income Tax Act, 1961
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, DELHI “D” BENCH: NEW DELHI
Before: SHRI MAHAVIR SINGH & SHRI PRADIP KUMAR KEDIA
Year : 2015-16] ICP Holdings 1 vs ACIT 4th Floor, Raffles Tower International Taxation- 19 Bank Street, Cyber City 2(1)(1) Delhi Ebene, Mauritius-72201 PAN-AACCI6190E APPELLANT RESPONDENT Appellant by Shri Ashik Shah, CA Respondent by Ms. Harpreet Kaur Hansra, Sr. DR Date of Hearing 20.12.2024 Date of Pronouncement 20.12.2024 ORDER
PER PRADIP KUMAR KEDIA, AM :
The instant appeal has been filed at the instance of the assessee seeking to assail the assessment order dated 28.03.2014 passed u/s 147 r.w.s. 144C(13) of the Income Tax Act, 1961 [“the Act”] pertaining to assessment year 2015-16.
When the matter was called for hearing, an application dated 21.11.2024 was adverted on behalf of assessee to submit that the assessee is opting for the ongoing “The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024”. It is submitted that the assessee does not seek to pursue the said appeal owing to exercise of option for availing DTVSV Scheme and consequently requested that the written application for withdrawal of appeal may please be granted.
The Ld. Sr. DR for the Revenue stated that she has no objection to withdraw the appeal as sought on behalf of the assessee. 4. In the light of oral/written request made on behalf of the assessee, the captioned appeal is dismissed. However, in the event, the assessee fails to avail the benefit of DTVSV Scheme for any bonafide reasons, then the assessee concerned shall be at liberty to seek restoration of original appeal for hearing before ITAT in accordance with law. 5. In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open Court on 20th December, 2024. Sd/- Sd/- (MAHAVIR SINGH) (PRADIP KUMAR KEDIA) VICE PRESIDENT ACCOUNTANT MEMBER