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Facts
The assessee filed an appeal challenging an order that arose from a penalty order under section 271(1)(c) of the Income Tax Act. At the time of the hearing, the assessee stated they had opted for the Direct Tax Vivad Se Vishwas Scheme, 2024, and had paid the determined settlement amount.
Held
The assessee requested to withdraw the appeal, and the Departmental Representative did not oppose the prayer. The Tribunal accepted the assessee's request for withdrawal.
Key Issues
Whether the assessee's appeal can be withdrawn due to opting for the Vivad Se Vishwas Scheme and settlement of dues.
Sections Cited
250, 271(1)(c)
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Income Tax Appellate Tribunal, “E” BENCH, MUMBAI
Before: SHRI NARENDRA KUMAR BILLAIYA & SHRI SANDEEP SINGH KARHAIL
The assessee has filed the present appeal challenging the impugned order dated 29.02.2024, passed under section 250 of the Income Tax Act, 1961 (“the Act”) by the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [“learned CIT(A)”], which in turn arose from the penalty order dated 02.02.2022 passed under section 271(1)(c) of the Act, for the assessment year 2017-18.
Kismet Exports and Investments Pvt. Ltd. ITA no.1904/Mum./2024
At the time of the hearing, the learned AR of the assessee filed a letter dated 13.12.2024 along with a copy of Form 1 filed under Direct Tax Vivad Se Vishwas Scheme, 2024 and stated that the assessee has opted for Direct Tax Vivad Se Vishwas Scheme, 2024. Along with the letter mentioned above, the assessee has also filed a copy of Form no.2 dated 10.12.2024, whereby the amount to be payable by the assessee towards a full and final settlement of the tax arrears has been determined. The assessee further submitted that the amount so determined, vide Form no.2, has also been paid by the assessee and in this regard, the assessee has also placed on record the challan receipt dated 13.12.2024. Accordingly, the assessee prayed for the withdrawal of its appeal.
Learned Departmental Representative does not oppose the prayer so made by the assessee.
In view of the aforesaid, we accept the request of the assessee for the withdrawal of the present appeal.
In the result, the appeal by the assessee is dismissed as withdrawn.
Order pronounced in the open Court on 17/12/2024.