ITAT Dismisses Appeal as Withdrawn as Assessee Opted for Vivad Se Vishwas Scheme

Smt. M. K. Rajeshwari Vs ACIT (ITAT Bangalore) The Income Tax Appellate Tribunal (ITAT), Bangalore, dismissed the appeal filed by the assessee for Assessment Year 2015-16 as withdrawn. The appeal had been filed against the order of the Commissioner of Income Tax (Appeals), Gulbarga, dated March 20, 2018. The substantive issue raised by the assessee related to the action of the Assessing Officer (AO) in treating income of ₹42.35 lakh, which had been declared under the head Long-Term Capital Gains (LTCG), as business income instead. During the course of the proceedings before the Tribunal, the...