PENNA SHIPPING LIMITED,HYDERABAD vs. INCOME TAX OFFICER, WARD-16(1), HYDERABAD

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ITA 169/HYD/2024Status: DisposedITAT Hyderabad07 November 2024AY 2021-22Bench: SHRI LALIET KUMAR (Judicial Member), SHRI MADHUSUDAN SAWDIA (Accountant Member)3 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the assessee's appeal as withdrawn, granting liberty to refile if the Vivad se Vishwas Scheme application is not accepted.

What were the facts?

The assessee filed an appeal before the ITAT against an order of the CIT(A). The assessee subsequently wished to avail the Direct Tax Vivad Se Vishwas Scheme, 2024.

What were the issues?

The primary issue was the assessee's intention to withdraw the appeal to pursue a settlement under the Vivad se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCHES “A”, HYDERABAD

Before: SHRI LALIET KUMAR & SHRI MADHUSUDAN SAWDIA

For Appellant: Shri A.V. Raghuram, Advocate
For Respondent: Shri Srikanth Reddy, Sr.AR
Hearing: 07.11.2024Pronounced: 07.11.2024

O R D E R PER LALIET KUMAR, J.M.

This appeal is filed by the assessee, feeling aggrieved by the order passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 26.12.2023 for the AY 2021-22.

2.

At the outset, the Learned Counsel for the assessee submitted that the assessee wish to avail Direct Tax “Vivad Se Vishwas Scheme, 2024" and hence, would like to withdraw this appeal.

3.

After hearing both the parties, we dismiss the appeal of the assessee with a liberty to approach the Tribunal if assessee's case is not accepted in Vivad se Vishwas Scheme 2024 by the Revenue for whatsoever may be the reason, then the assessee shall be at liberty to file Misc. Application before the Tribunal within the time limit prescribed under the Act to reinstate assessee's appeal. Ordered accordingly.

4.

In the result, the appeal of the assessee is dismissed as 'withdrawn'.

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