2024 (1) TMI 1235 - SCH - Income Tax

ACIT assuming jurisdiction - transfer of cases - Interpretation of provisions of Section 124(3)(a) - absence of reference to an incorrect provision per se cannot invalidate the authority conferred in the present case u/s 120(2) instead of Section 120(4)(b) - HELD THAT - As petitioner submitted he has instructions to withdraw the special leave petition, in view of the settlement arrived at between the parties under the Direct Tax Vivad Se Vishwas Act, 2020 . Copy of the settlement arrived at between the parties has been filed and the same is taken on record. The special leave petition stands dismissed as withdrawn.

Summary

The Supreme Court dismissed the special leave petition as withdrawn after the petitioner decided to withdraw it due to a settlement reached between the parties under the 'Direct Tax Vivad Se Vishwas Act, 2020'.