PARIT MUKUNDRAI MAVJI PATEL,AUSTRALIA vs. ADIT (INT TAXN)-2, HYDERABAD

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ITA 295/HYD/2024Status: DisposedITAT Hyderabad26 September 2024AY 2016-2017Bench: Shri Mahavir Singh, Hon'ble (Vice President), Shri Manjunatha, G. Accountant Hon'ble (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 allowed the assessee to withdraw the appeal to settle the dispute under the VSVS 2024. Liberty was granted to restore the appeal if the VSVS benefit could not be availed.

What were the facts?

The assessee filed an appeal before the ITAT. During the hearing, the assessee's counsel stated the intention to avail the Voluntary Settlement Scheme (VSVS) 2024.

What were the issues?

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

AI-generated summary — verify with the full judgment below

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

Before: Shri Mahavir Singh, Honble Vice- & Shri Manjunatha, G. Accountant Honble

Hearing: 26/09/2024

ORDER Per Manjunatha, G. A.M This appeal filed by the assessee is directed against the order dated 1/2/2024 of the learned CIT (A)-10, Hyderabad, relating to A.Y.2016-17.

2.

At the time of hearing, the learned Counsel for the assessee made a statement at Bar that, the assessee intend to avail the VSVS scheme 2024 to be notified by the Government and thus, the appeal of the assessee may be dismissed as withdrawn subject to condition that a liberty may be given to the assessee to restore his appeal, in case for any reason, it is not possible to avail the benefit under VSVS scheme.

3.

The learned DR present for the Revenue has no objection for withdrawal of the appeal by the assessee.

4.

We have heard both the parties and also considering the statement made by the learned Counsel for the assessee at Bar, we allow the assessee to withdraw his appeal on the ground of settling the dispute under the VSVS 2024. We also provide liberty to the assessee to restore his appeal, in case for any reason it is not possible for the assessee to avail the benefit under VSVS 2024.

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