ITAT Allahabad Allows Withdrawal of Penalty Appeal Due to Vivad Se Vishwas Settlement

Priti Mishra Vs ACIT (ITAT Allahabad) The Income Tax Appellate Tribunal (ITAT), Allahabad bench, has permitted a taxpayer, Priti Mishra, to withdraw her appeal against a penalty levied under Section 270A of the Income Tax Act, 1961. The withdrawal was allowed after the assessee informed the tribunal that she had opted for the Vivad Se Vishwas Scheme, 2024, to settle the underlying tax dispute and had fulfilled the initial requirements of the scheme, including payment of taxes and receipt of confirmation from the tax department. The appeal before the ITAT was directed against an order passed by...