SHRI JAYESH JAYANTILAL SHAH,RAJKOT vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(3), RAJKOT

At the time of hearing before us, none appeared on behalf the assessee. However, vide application dated 09.06.2022, the assessee submitted that the assessee has opted to avail the benefits of “Vivad Se Vishwas Scheme 2020” and also submitted that the assessee has already received Form No.5, being the order for full and final settlement of tax arrears under the said Scheme, issued by the Principal Commissioner of Income Tax, Rajkot-1 in this regard, which is placed on record.

The learned Departmental Representative submitted that he has no objection to the withdrawal of the appeal in the circumstances narrated on behalf of the assessee.

We have considered the submission of the assessee for withdrawal of the appeal under the Scheme “Direct Tax Vivad se Vishwas 2020”. In the light of aforesaid request made by the assessee as also considering the Form No.5 submitted by the assessee towards the final settlement of tax arrears under Section 5(2) read with Section 6 of the Direct Tax Vivad Se Vishwas Act, 2020 (Form-5) issued by the PCIT, Rajkot-1, the appeal of the assessee is dismissed as withdrawn. However, in the event, the assessee fail to avail the benefit of “Vivad se Vishwas Scheme” for any bonafide reasons, then the assessee will be at liberty to seek restoration of original appeal for hearing before the ITAT in accordance with law.

In the result, the appeal of the assessee is dismissed as withdrawn.