Case Law Details
Fulcrum Venture India Vs ACIT (ITAT Chennai)
In the case of Fulcrum Venture India Vs ACIT (ITAT Chennai), the Income Tax Appellate Tribunal (ITAT) dismissed the appeal filed by the assessee for the Assessment Year 2018-19. The assessee had filed a letter dated 11.11.2024, along with a copy of Form 1 under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV), informing that it had opted for the scheme.
Considering the circumstances, the ITAT dismissed the appeal as withdrawn, with the condition that the appeal could be reinstated if the application under the Vivad Se Vishwas Scheme was not accepted. This decision was pronounced in the open court at Chennai on 11th November 2024. The matter is now pending based on the outcome of the Vivad Se Vishwas Scheme application.
FULL TEXT OF THE ORDER OF ITAT CHENNAI
This appeal at the instance of the assessee is directed against CIT(A)’s order dated 11.04.2024, passed under section 250 of the Income Tax Act, 1961 (hereinafter called ‘the Act’). The relevant Assessment Year is 20 18-19.
2. At the time of hearing, the ld.AR for the assessee has filed a letter dated 11.11.2024 along with copy of Form 1 filed under Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV) and stated that assessee has opted for Direct Tax Vivad Se Vishwas Scheme, 2024. In light of the above letter, we dismiss the appeal of the assessee with a liberty to reinstate the appeal if its application under Direct Tax Vivad Se Vishwas Scheme, 2024, is not accepted.
3. In the result, the appeal filed by the assessee is dismissed as withdrawn.
Order pronounced in the open court at the time of hearing on 11th November, 2024 at Chennai.
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