VINS BIOPRODUCTS LIMITED,HYDERABAD vs. DCIT., CIRCLE-8(1), HYDERABAD

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ITA 564/HYD/2024Status: DisposedITAT Hyderabad24 October 2024AY 2015-16Bench: Shri Laliet Kumar (Judicial Member), Shri Manjunatha, G. (Accountant Member)2 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The tribunal dismissed the appeal of the assessee as withdrawn. However, the assessee was granted liberty to approach the tribunal if their case was not accepted under the Vivad se Vishwas Scheme.

What were the facts?

The assessee wished to avail the Direct Tax Vivad Se Vishwas Scheme, 2024. Consequently, the assessee requested to withdraw the appeal filed before the tribunal.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal to avail a tax settlement scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad ‘A ‘ Bench, Hyderabad

Before: Shri Laliet Kumar & Shri Manjunatha, G.

Hearing: 24/10/2024

Per Manjunatha, G. A.M This appeal filed by the assessee is directed against the order dated 27/02/2024 of the learned CIT (A)-NFAC Delhi, relating to A.Y.2015-16.

2.

At the outset, the Learned Counsel for the assessee submitted that the assessees 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 the 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In the result, the appeal of the assessee is dismissed as 'withdrawn'.

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