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Facts
The assessee's twin appeals for assessment year 2007-08 arise against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre. These proceedings involve sections 147, 263, and 154 of the Income-tax Act, 1961.
Held
During the course of hearing, it emerged that the assessee opted to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024. The Revenue did not dispute this averment.
Key Issues
Whether the appeal can be dismissed as withdrawn due to opting for the Direct Tax Vivad Se Vishwas Scheme, 2024.
Sections Cited
147, 263, 154
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, AGRA BENCH, “SMC” AGRA
Before: SHRI SATBEER SINGH GODARA & SHRI M. BALAGANESH
PER SATBEER SINGH GODARA, JM These assessee’s twin appeals & 405/Agr/2024 for assessment year 2007-08, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250 /2024-25/1067557158(1) and ITBA/NFAC/S/250/2024- 25/1067556570(1), both dated 12.08.2024 involving proceedings under section 147 r.w.s. 263 and 154 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’), respectively.
It emerges during the course of hearing that the assessee herein has opted for settling the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024 by filing the prescribed Form -1 in the office of the designated authority.
The Revenue is equally fair in not disputing this clinching averment made by the assessee at this stage.