2025 (4) TMI 1368 - SCH - Income Tax

Loss on derivative on the issue of loss in shares and securities and the issue of Coordination charge - As petitioner submitted that the controversy between the petitioner and the Department no longer survives in view of the settlement of dues under the Direct Tax Vivad Se Vishwas Scheme 2024. Hence appropriate orders may be made in this petition. HELD THAT - The submission of learned counsel for the petitioner is placed on record. Owing to the aforesaid reason the Special Leave Petition has been rendered infructuous.

Summary

The Supreme Court, through Hon'ble Justices B. V. Nagarathna and Satish Chandra Sharma, addressed a Special Leave Petition wherein the petitioner's counsel submitted that the dispute with the Department was resolved pursuant to the settlement of dues under the Direct Tax Vivad Se Vishwas Scheme, 2024. The Court recorded this submission and held that the petition "has been rendered infructuous." Consequently, all pending applications were disposed of.