RAJENDER KUMAR JAIN HUF,DELHI vs. ACIT CIRCLE-34(1), NEW DELHI

PDF · subscribers
ITA 6850/DEL/2019Status: DisposedITAT Delhi23 January 2023AY 2015-162 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found merit in the assessee's contention that the quantum dispute was settled under the VSVS Act, 2020. Consequently, the appeal was restored to the AO for decision as per the relevant provisions of the VSVS Act.

What were the facts?

The assessee's appeal was against an order for AY 2015-16. The assessee contended that the quantum of tax dispute had been settled under the Vivad se Vishwas Scheme (VSVS Act, 2020).

What were the issues?

Whether the penalty under Section 271(1)(c) survives when the underlying tax dispute has been settled under the Vivad se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘F’, NEW DELHI

Before: SH. N. K. BILLAIYA & SH. N. K. CHOUDHRY

For Appellant: Ms. Praveen Gupta, CA
Hearing: 23/01/2023Pronounced: 23/01/2023

This appeal by the assessee is preferred against the order of the CIT(A)-12, New Delhi dated 19.06.2019 pertaining to A.Y.2015-16. 2. At the very, outset the authorized representative drew our attention to form No.5 being order for full and final settlement of tax arrear under direct tax VSV Act, 2020 and pointed out that the quarrel relating to the quantum has been settled under VSVS Act, 2020, therefore, the consequent levy of penalty u/s. 271 (1) (c) of the Act does not survive as per relevant provisions of the VSVS Act, 2020.

3.

We have carefully perused the documents filed before us. We find force in the contention of the Counsel the tax relating to the quantum dispute have been settled as per the tax challan submitted before us. We, therefore, deem it fit to restore the issues in the appeal to the files of the AO. The AO is directed to decide the issues as per relevant provision of the VSVS Act, 2020 as the quarrel relating to the quantum have been settled.

4.

In the result, the appeal of the assessee is allowed for statistical purpose. Order announced in the open court on 23.01.2023.

More judgments on Section 271(1)(c)

All 25,141 judgments and leading authorities on Section 271(1)(c) →

Recent GST High Court judgments

Search GST case law →