Loading judgment…
Facts
The assessee-appellant challenged an order dated 31/05/2024, which upheld the assessment order dated 26.09.2021 for AY 2013-14. The Assessing Officer had added Rs. 15,15,027/- under section 68 of the Income Tax Act, 1961, citing bogus long-term capital gains from an investment in a paper company.
Held
The CIT(A) had dismissed the assessee's appeal, upholding the assessment order. Subsequently, the assessee filed an application to withdraw the appeal, intending to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024.
Key Issues
Whether the appeal can be dismissed as withdrawn in light of the assessee opting to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024.
Sections Cited
68 of Income Tax Act, 1961, 92(1) of the Direct Tax Vivad Se Vishwas Scheme, 2024
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, JAIPUR BENCHES,”SMC” JAIPUR
Before: SHRI RATHOD KAMLESH JAYANTBHAI, AM & SHRI NARINDER KUMAR, JM
आदेश की प्रतिलिपि अग्रेf’ात@ब्वचल वf जीम वतकमत वितूंतकमक जवरू 1. The Appellant-Sh. Ankit Somani. 2. izR;FkhZ@ The Respondent- ITO, Ward-6(3), Jaipur. 3. vk;dj vk;qDr@ CIT. 4. vk;dj vk;qDr¼vihy½@CIT(A) 5. विभागीय प्रतिनिधि] आयकर अपीलीय अधिकरण] जयपुर@क्त्ए प्ज्Aज्ए Jंपचनत 6. xkMZ QkbZy@ Guard File (ITA No. 986/JP/2024) vkns'kkuqlkj@ By order,
सहायक पंजीकार@Aेेज. त्महपेजतंत
(3)
Ankit Somani v. ITO, Ward-6(3), Jaipur
(3)