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Facts
The assessee filed an appeal against an order passed by the Ld. Commissioner of Income Tax (Appeals) for the Assessment Year 2013-14. During the appeal proceedings, the assessee opted for the Vivad Se Vishwas Scheme (VSVS) 2024 and filed the required Form No. 1.
Held
The Tribunal dismissed the assessee's appeal as withdrawn, noting that the assessee chose to settle the dispute amicably under the VSVS. The order includes a provision for parties to seek recall if the assessee fails to deposit the requisite amount as determined by the concerned authority under the scheme.
Key Issues
Whether the appeal should be dismissed as withdrawn given the assessee's election to participate in the Vivad Se Vishwas Scheme, 2024.
Sections Cited
250
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Income Tax Appellate Tribunal, MUMBAI BENCH SMC”, MUMBAI
Before: SHRI NARENDER KUMAR CHOUDHRY
Per : Narender Kumar Choudhry, Judicial Member:
This appeal has been preferred by the Assessee against the order dated 20.03.2024, impugned herein, passed by the Ld. Commissioner of Income Tax (Appeals) (in short Ld. Commissioner) under section 250 of the Income Tax Act, 1961 (in short ‘the Act’) for the A.Y. 2013-14.
In the instant case, the Assessee has opted for Vivad Se Vishwas Scheme, (in short “VSVS”) 2024 and in pursuance to that has filed Form no.1. 2024.
The Ld. D.R. did not refute the claim of the Assessee.
Considering the peculiar facts and circumstances of the case, as the Assessee has opted for VSVS in order to settle the dispute amicably, therefore the appeal of the Assessee deserve dismissal being withdrawn, however, with liberty to the parties to seek recall of this order, in case of failure of the Assessee to deposit the requisite amount to be determined by the concerned authority under VSVS, 2024.
In the result, the appeal filed by the Assessee, is dismissed as withdrawn with liberty to the parties as mentioned above.
Order pronounced in the open court on 12.12.2024.