A R WEALTH ADVISORY SERVICES PVT. LTD.,GORAKHPUR V. INCOME TAX OFFICER, NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

ITA 54/VNS/2024

AI Insights

The case involves AR Wealth Advisory Services Pvt. Ltd, the appellant, who filed appeals against the orders of the Commissioner Income Tax (Appeals)/National Faceless Appeal Centre (NFAC) for the assessment years 2014-15 & 2015-16. The disputes in these appeals were settled under the Direct Tax Vivad se Vishwas Scheme, 2024, a scheme introduced by the Government of India aimed at reducing litigation in direct tax matters. The assessee had already deposited the disputed tax demand along with interest and received a refund determination from the Income Tax Department. Consequently, the assessee requested the withdrawal of the appeals to avoid further litigation.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 791675 (ITAT-VARANASI)
• Duration Of Justice: 1 year(s) 8 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-12-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 10-04-2024
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G. P. SINGH
• Assessee Lawyers: SUBHAM SINGH

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL VARANASI CIRCUIT BENCH, VARANASI BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA Nos. 53 & 54/VNS/2024 Assessment Years: 2014-15 & 2015-16 AR Wealth Advisory Services Pvt. Ltd Shop No.8, 9, 2nd Floor, The Mall Cross Road, Bank Road, Gorakhpur-273001. v. Income Tax Officer/National Faceless Assessment Centre (NFAC) Delhi. TAN/PAN:AAHCA5747J (Appellant) (Respondent) Appellant by: Shri Subham Singh, CA Respondent by: Shri G. P. Singh, Sr. Dr Date of hearing: 10 12 2025 Date of pronouncement: 11 12 2025 O R D E R PER KUL BHARAT, VICE PRESIDENT.: These two appeals, filed by the assessee, against the common order dated 05.03.2024 of learned Commissioner Income Tax (Appeals) [hereinafter referred as the “Ld. CIT(A)”]/National Faceless Appeal Centre (NFAC) for the assessment years 2014-15 & 2015-16. 2. At the outset, the Ld. Counsel for the assessee submitted that the dispute has been settled under the Direct Tax Vivad se Vishwas Scheme, 2024 and prayed for withdrawal of the appeals. And a letter dated 29.01.2025 along with Form no. 2 is placed on record. The relevant contents of the letter dated 29.01.2025 is reproduced as under: - “With reference to the above we would like to state that we had filed an appeal against order passed u/s 250 of the Income Tax Act, 1961 by the Hon’ble ACIT, NFAC, Delhi for the A. Y. 2014-15 vide Appeal Reference Printed from counselvise.com ITA No.53 & 54/VNS/2024 Page 2 of 3 Number ITA 53/ VNS/ 2024, a copy of the Appeal Acknowledgement is attached herewith for your reference. However, it may please be noted that in order to avoid further litigation and to settle the disputes, we have opted for the Vivad Se Vishwas Scheme as introduced by the Government of India under The Direct Tax Vivad Se Viswas Act, 2024 and have filed the Form on 22.01.2025, a copy of which is attached herewith for your reference. In pursuance of the same we have received Form 2 from the Income Tax Department on 29.01.2025 wherein a sum of Rs.77,579/- has been determined as refundable to us towards full and final settlement of the tax arrears for the year under consideration as the entire disputed tax demand alongwith interest was deposited by us on 28.04.2022 vide challan no. 18172 BSR code 0510308 amounting to Rs.7,23,950/-, 06.10.2022 vide challan no. 06253 BSR code 0004329 amounting to Rs.1,58,190/- and 10.11.2022 vide challan no. 42653 BSR code 0004329 amounting to Rs.9,17,910/-. A copy of the Form 2 alongwith the copy of 26AS highlighting the payment is attached herewith for your consideration. In view of the above, we hereby withdraw the Appeal filed and request your honour to kindly do the needful for closure of appellate proceedings.” 3. The Learned Departmental Representative has no objection for withdrawal of the aforesaid appeals. 4. In view of the facts discussed above, we permit the assessee to withdraw these appeals. Accordingly, both appeals are dismissed as withdrawn. However, a liberty is given to the assessee for approaching the Tribunal for restoration of these appeals in the event of failure of settlement of tax disputes. 5. In the result, the appeals of the assessee are dismissed as withdrawn. Order pronounced in the open Court on 11/12/2025. Sd/- Sd/- [ANADEE NATH MISSHRA] [KUL BHARAT] ACCOUNTANT MEMBER VICE PRESIDENT DATED: 11/12/2025 Vijay Pal Singh, (Sr. PS) Printed from counselvise.com ITA No.53 & 54/VNS/2024 Page 3 of 3 Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. DR By order Sr. Private Secretary Printed from counselvise.com "