Laxmi Road Lines Vs PCIT (ITAT Panaji)
Panaji, Goa – A tax appeal lodged by M/s Laxmi Road Lines, a transport firm, before the Income Tax Appellate Tribunal (ITAT), Panaji bench, was dismissed as withdrawn on February 6, 2025. The withdrawal came after the company elected to resolve its tax dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV). The appeal had challenged an order issued by the Principal Commissioner of Income Tax (PCIT) under the provisions of Section 263 of the Income Tax Act, 1961.
According to the order pronounced by the ITAT Panaji bench, the assessee, M/s Laxmi Road Lines, communicated its decision to pursue settlement of the tax litigation through the DTVSV scheme. This intention was conveyed to the Tribunal by way of a letter. The firm also confirmed that it had taken the necessary step of filing Form No. 2 as prescribed under the DTVSV Rules, formally entering the scheme.
During the proceedings, the learned Departmental Representative (DR), representing the tax authorities, informed the Tribunal that there were no objections from their side regarding the assessee’s request to withdraw the appeal.
The Tribunal, after considering the submissions and the material on record, noted that since the assessee had opted for the Direct Tax Vivad Se Vishwas Scheme, 2024, and had filed an application dated February 3, 2025, for the withdrawal of the appeal, allowing the appeal to remain pending before the ITAT would serve no further purpose.
