NISHITHA REDDY VALLAMLA,HYDERABAD V. ADDL.CIT, RANGE-9, HYDERABAD

ITA 1407/HYD/2024

AI Insights

The case involves Smt. Nishitha Reddy Vallamla, who appealed against an order from the CIT (A)-NFAC Delhi concerning the assessment year 2017-18. The dispute was related to a penalty under section 271D of the Income Tax Act, 1961. During the proceedings, the assessee's counsel informed the tribunal about the assessee's decision to opt for the VSV Scheme 2024, which is a scheme aimed at resolving tax disputes. The assessee had filed a declaration in Form-1 and received Form-2 from the designated authority, determining the tax liability, which was subsequently paid by the assessee. Given these developments, the assessee requested to withdraw the appeal, which was granted by the tribunal.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 473244 (ITAT-HYDERABAD)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-04-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2017-2018
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: P VINOD; ADVOACATE
• Section: 271D

Judgement Text

" ITA No 1407 of 2024 Nishitha Reddy Vallamla Page 1 of 3 आयकर अपीलȣय अͬधकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘ DB-A ‘ Bench, Hyderabad Before Shri Vijay Pal Rao, Vice-President A N D Shri Madhusudan Sawdia, Accountant Member आ.अपी.सं /ITA No.1407/Hyd/2024 (िनधाŊरण वषŊ/Assessment Year: 2017-18) Smt. Nishitha Reddy Vallamla, Hyderabad PAN:AVJPV1131F Vs. Addl. C. I. T Range – 9 Hyderabad (Appellant) (Respondent) िनधाŊįरती Ȫारा/Assessee by: Shri P Vinod, Advoacate राज̾ व Ȫारा/Revenue by:: Shri Srinath Sadanala, DR सुनवाई की तारीख/Date of hearing: 02/04/2025 घोषणा की तारीख/Pronouncement: 02/04/2025 आदेश/ORDER Per Vijay Pal Rao, Vice President This appeal filed by the assessee is directed against the order dated, 06/09/2024 of the learned CIT (A)-NFAC Delhi, relating to A.Y.2017-18. 2. At the time of hearing, the learned Counsel for the assessee has stated at Bar that, the assessee has opted for VSV Scheme 2024 to settle the dispute of outstanding taxes arising from the impugned order on levy of penalty u/s 271D of the I.T. Act, 1961 by filing the declaration in Form-1. He has further ITA No 1407 of 2024 Nishitha Reddy Vallamla Page 2 of 3 submitted that the designated authority has issued Form-2 dated 11/03/2025 and the assessee has also paid the taxes as determined in Form-2, vide challan dated 18/03/2025. Thus, he has submitted that the assessee does not want to pursue the present appeal and seek permission to withdraw the present appeal. 3. On the other hand, the learned DR has raised no objection, if the appeal of the assessee is dismissed as withdrawn in view of the fact that the assessee has opted for VSV Scheme 2024 to settle the tax disputes in question. 4. Having considered the submissions of both the sides as well as perusal of the relevant record, at the outset we note that the assessee has opted for VSV Scheme 2024 to settle the dispute of outstanding tax due, arising from the penalty levied u/s 2671D of the Act for the year consideration. The designated authority has issued Form-2 on 11/03/2025 determining the tax liability which has been paid by the assessee vide challan dated 18/03/2025. A copy of Form-2 and challan dated 18/03/2025 was placed on record. Accordingly, the assessee is allowed to withdraw the present appeal and consequently, the appeal of the assessee is dismissed as withdrawn. In case the tax dispute, in question, is not finally settled under the VSV Scheme 2024, the assessee may approach the Tribunal for revival of the present appeal subject to limitation. ITA No 1407 of 2024 Nishitha Reddy Vallamla Page 3 of 3 5. In the result, appeal filed by the assessee is dismissed being withdrawn. Order pronounced in the Open Court on the conclusion of hearing i.e. on 2nd April, 2025. Sd/- Sd/- (MADHUSUDAN SAWDIA) ACCOUNTANT MEMBER (VIJAY PAL RAO) VICE-PRESIDENT Hyderabad, dated 2nd April, 2025 Vinodan/sps Copy to: S.No Addresses 1 Smt. Nishitha Reddy Vallamla, 8-8-336, Green Park Colony, Road No.3, Karmanghat, Saroornagar, Hyderabad 500035 2 Addl. CIT, Range-9 IT Towers, AC Guards, Masab Tank, Hyderabad 500004 3 Pr. CIT - Hyderabad 4 DR, ITAT Hyderabad Benches 5 Guard File By Order "