NIPUN KOTHA,HYDERABAD V. ASSISTANT COMMISSIONER OF INCOME TAX, INT. TAXN. - 1, HYDERABAD

ITA 198/HYD/2024

AI Insights

Nipun Kotha and Preeti Kotha, residents of Hyderabad, filed appeals against the orders passed by the Assistant Commissioner of Income Tax, International Taxation-1, Hyderabad, under sections 147 and 144C(13) of the Income Tax Act, 1961 for the assessment year 2017-18. The appeals were consolidated due to identical issues involved. The assessees decided to withdraw their appeals as they opted for resolution under the DTVSV,2024, having already submitted Form-1 and paid the taxes as per Form-2 under the scheme. The Tribunal, after hearing the submissions and considering the concession by the Department Representative, allowed the withdrawal of the appeals.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 28643 (ITAT-HYDERABAD)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-12-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2017-2018
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: K.C.DEVDAS
• Section: 147

Judgement Text

" आआआआ आआआआआआ आआआआआआ, आआआआआआआआ आआआ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA No.198 & 199/Hyd/2024 (निर्धारण वर्ा/Assessment Years:2017-18) Nipun Kotha, Hyderabad. PAN:AHGPK1878F Vs. Asst. Commissioner of Income Tax, International Taxation-1, Hyderabad. Preeti Kotha, Hyderabad. PAN:AHGPK1892D Vs. Asst. Commissioner of Income Tax, International Taxation-1, Hyderabad. (Respondent) (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Shri K.C.Devdas, C.A. रधजस् व द्वधरध/Revenue by:: Ms M. Narmada, CIT-DR सुिवधई की तधरीख/Date of hearing: 23/12/2024 घोर्णध की तधरीख/Pronouncement: 23/12/2024 आदेश/ORDER PER BENCH : Both these appeals are filed by Nipun Kotha and Preeti Kotha, Hyderabad (“the assessees”), feeling aggrieved by the separate orders passed by the Learned Assessing Officer (“Ld. A.O.”) u/s 147 r.w.s. 144C(13) of the Income Tax Act, 1961 on 09.01.2024 for the A.Y. 2017-18. Since identical issues are involved in these appeals, they are heard together and consolidated order is being passed for the sake of convenience and brevity. ITA Nos.198 & 199/Hyd/2024 2 2. At the outset, the Learned Authorised Representative (“Ld. AR”) submitted that, both the assessees wanted to withdraw the appeal as they have opted to resolve their dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024 (“DTVSV,2024”). The Ld. AR also submitted that, both the assessees have filed Form-1 under the DTVSV,2024 on 15.11.2024 and paid the amount of taxes in accordance with Form-2 of the DTVSV,2024. Therefore, the Ld. AR requested before the bench that both the assessees may be allowed to withdraw the appeal. 3. The Learned Department Representative (“Ld. DR”) conceded to the request of Ld. AR. 4. We have heard the rival contentions and also gone through the records in the light of the submissions made by either side. We are inclined to allow the appeal of both the assessees to withdraw as they have preferred to resolve their dispute under the DTVSV,2024 and have already filed Form-1 under DTVSV,2024 on 15.11.2024 and paid the amount of taxes in accordance with Form-2 of the DTVSV,2024. The Ld. DR has also conceded to the request of Ld. AR. Accordingly, we hereby dismiss the appeals of both the assessees as withdrawn. However, we are giving opportunity to both the assessees, if the ITA Nos.198 & 199/Hyd/2024 3 case of the assessees are not accepted under the DTVSV,2024 by Revenue for whatsoever may be the reason, then the assessees shall be at liberty to file Miscellaneous Application before the Tribunal within the prescribed time under the Act to reinstate the case. It is ordered accordingly. 5. In the result, the appeal filed by both the assessees are dismissed as withdrawn. Order pronounced in the open Court on 23rd Dec., 2024. Sd/- Sd/- (VIJAY PAL RAO) (MADHUSUDAN SAWDIA) VICE PRESIDENT ACCOUNTANT MEMBER Hyderabad. Dated: 23.12.2024 * Reddygp Copy of the Order forwarded to : 1. a)Nipun Kotha, b)Preeti Kotha 8-2-293/174/5A, Road No. 14, Banjara Hills, BNR Colony Hyderabad-500034 2. ACIT, International Taxation-1, Hyderabad. 3. Pr.CIT, Hyderabad. 4. DR, ITAT, Hyderabad. 5. Guard file. BY ORDER, "