What did the Tribunal hold?

The Tribunal dismissed the assessee's appeal as withdrawn. This dismissal is with liberty to reinstate the appeal if the Vivad Se Vishwas application is not accepted.

The assessee filed an appeal against the CIT(A)'s order for AY 2018-19. During the hearing, the assessee submitted a letter stating they had opted for the Direct Tax Vivad Se Vishwas Scheme, 2024.

What were the issues?

The primary issue was the assessee's decision to opt for the Vivad Se Vishwas Scheme, leading to the withdrawal of the appeal.

Fulcrum Venture India vs ACIT | ITAT Chennai 2024

Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI

Before: SHRI GEORGE GEORGE KAND SHRI S.R. RAGHUNATHA

Hearing: 11.11.2024Pronounced: 11.11.2024

आदेश /O R D E R

PER GEORGE GEORGE K, VICE PRESIDENT:

This appeal at the instance of the assessee is directed against CIT(A)’s order dated 11.04.2024, passed under section 250 of the Income Tax Act, 1961 (hereinafter called ‘the Act’). The relevant Assessment Year is 2018-19.

2. At the time of hearing, the ld.AR for the assessee has filed a letter dated 11.11.2024 along with copy of Form 1 filed under Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV) and stated that assessee has opted for Direct Tax Vivad Se Vishwas Scheme, 2024. In light of the above letter, we dismiss the appeal of the assessee with a liberty to reinstate the appeal if its application under Direct Tax Vivad Se Vishwas Scheme, 2024, is not accepted.

In the result, the appeal filed by the assessee is dismissed as withdrawn.

Order pronounced in the open court at the time of hearing on 11th November, 2024 at Chennai.

FULCRUM VENTURE INDIA,CHENNAI vs. ACIT, NCC-10(1), CHENNAI

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