The appeal filed by Solenis Chemicals India Private Limited before the Income Tax Appellate Tribunal, Mumbai Bench, arose from an assessment order passed under section 143(3) read with sections 144C(13) and 144B of the Income-tax Act, 1961. During the pendency of the appeal, the assessee opted to resolve the disputed issues under the Direct Tax Vivad Se Vishwas Scheme, 2024.

In pursuance of the Scheme, the assessee duly filed Form No. 1, and the designated authority thereafter issued Form No. 2, determining a refund amounting to ₹25,96,140. As mandated under section 91(3) of the Scheme, the assessee sought withdrawal of the pending appeal and proposed to submit Form No. 3.

The Department raised no objection to the withdrawal request. After considering the submissions of both parties and examining the documentary record, the Tribunal observed that the disputed tax issues stood settled under the statutory settlement mechanism provided by the Direct Tax Vivad Se Vishwas Act, 2024.

Accordingly, the Tribunal dismissed the appeal as withdrawn. However, liberty was expressly granted to the assessee to seek recall of the order in accordance with law, should circumstances so warrant in the future.

SOURCE LINK :  https://itat.gov.in/public/files/upload/1767779247-4bX2vu-1-TO.pdf

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