2025 (6) TMI 1695 - AT - Income Tax

Settlement of case of quantum assessment under VSVS 2024 - HELD THAT - As per the provisions of section 91(2) of the DTVSV Scheme 2024 any appeal pending before the ITAT or CIT(A) in respect of disputed interest or disputed penalty or disputed fee or tax arrears shall be deemed to have been withdrawn upon the issuance of certificate u/s 92(1) of the DTVSV Scheme 2024. On going through the letter along with the enclosures filed we find that the Form No.2 i.e. Certificate under sub- section (1) of section 92 of the Finance (2) Act 2024 is issued by the Principal Commissioner of Income Tax on 20.01.2025. Further intimation of payment under sub-section (2) of section 92 of the Finance (No.2) Act 2024 is filed by the assessee on 4.2.2025 vide acknowledgement No.858981110040225 and accordingly the Form No.4 i.e. Order for full final settlement of tax arrears under sub- section (2) of section 92 r.w.s. 93 of the Finance (2) Act 2024 is awaited from the. This Being so we accordingly as per the request letter dated 5.3.2025 dismiss this appeal of the assessee for the assessment year 2016-17 as withdrawn. In the result appeal filed by the assessee is dismissed as withdrawn.

Summary

The Appellate Tribunal (ITAT Bangalore) disposed of the assessee's appeal against the AO's order dated 15.4.2021 for AY 2016-17. The assessee, having filed 11 grounds of appeal, opted to settle the quantum assessment dispute under the Direct Tax Vivad se Vishwas Scheme (DTVSV), 2024, submitting Form 1 and receiving Form 2 (certificate under section 92(1) of the Finance (No.2) Act, 2024) from the Principal CIT. The Tribunal noted that under section 91(2) of the DTVSV Scheme, any appeal pending before the ITAT or CIT(A) in respect of disputed tax arrears shall be deemed withdrawn upon issuance of the certificate under section 92(1). Since the assessee complied with the scheme's requirements and requested withdrawal, and the Revenue had no objection, the Tribunal "dismiss[ed] this appeal of the assessee for the assessment year 2016-17 as withdrawn." The order was pronounced on 16 June 2025.