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Facts
The assessee filed an appeal against the order of the CIT(A) for the assessment year 2015-16. The assessee's counsel stated that the assessee had opted for the VSVS Scheme of 2024 and was issued Form-2.
Held
The assessee expressed a desire to withdraw the present appeal. The Departmental Representative did not object to this withdrawal. The Tribunal perused the record and observed that Form 2 contained details of the disputed tax and the settled amount.
Key Issues
Whether the assessee can withdraw the appeal after opting for the VSVS Scheme of 2024.
Sections Cited
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Income Tax Appellate Tribunal, “C’’ BENCH: BANGALORE
Before: SHRI PRASHANT MAHARISHI & SHRI PRAKASH CHAND YADAV
PER PRAKASH CHAND YADAV, JUDICIAL MEMBER:
Present appeal of the assessee is arising from the order of ld. CIT(A) dated 30.7.2024 having DIN & Order No.ITBA/NFAC/S/250/2024-25/1067147335(1) and relates to assessment year 2015-16.
At the outset, ld. Counsel for the assessee Mrs. Suman Lunkar appearing via virtual mode has stated that the assessee has opted for VSVS Scheme of 2024 and has also been issued Form-2. Therefore, the assessee would like to withdraw the present appeal.
The ld. D.R. could not object to the withdrawal of appeal by the assessee.
SMSG Jain College, Bangalore Page 2 of 2 4. We have heard the rival submissions and perused the materials available on record. We observe that Form 2 has been issued by the competent authority in this matter which contains the details of disputed tax as well as amount settled. Therefore, we hereby dismiss this appeal as withdrawn.
In the result, appeal of the assessee is withdrawn.
Order pronounced in the open court on 24th Dec, 2024