Transport Firm Withdraws ITAT Appeal After Opting for Vivad Se Vishwas Scheme [Read Order]

The Income Tax Appellate Tribunal (ITAT) Panaji Bench has dismissed an appeal filed by Shri Laxmi Road Lines after the Belagavi-based transport company opted to settle its tax dispute under the Direct Tax Vivad Se Vishwas Scheme(DTVSVS), 2024. The case pertained to an order passed by the Principal Commissioner of Income Tax (Pr.CIT) under Section 263 of the Income Tax Act, 1961 for assessment year 2017-18.

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Shri Laxmi Road Lines had challenged the Pr.CIT's revisionary order through an appeal before the Panaji ITAT bench. However, during proceedings, the assessee submitted a letter dated January 13, 2025 expressing its intention to resolve the dispute through the Vivad Se Vishwas Scheme. The company subsequently filed Form No. 2 under DTVSVS Rules and requested withdrawal of its appeal through another letter dated February 3, 2025.

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The Departmental Representative raised no objections to the withdrawal request. The ITAT bench noted that since the assessee had formally opted for the dispute resolution scheme and sought appeal withdrawal, keeping the matter pending would serve no purpose. The tribunal accordingly dismissed the appeal as withdrawn while granting liberty to the assessee to file an application under Section 254(2) of the Act for order recall if needed.

The order was pronounced by Pavan Kumar Gadale (Judicial Member) and GD Padmashali (Accountant Member) on February 6, 2025. The ruling brings closure to the tax dispute that had been pending before the appellate tribunal, with the transport company now resolving its differences with the tax department through the government's dispute settlement mechanism.

To Read the full text of the Order CLICK HERE

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