M/S. ARTA BROCH CERAMICS PVT. LTD,BHARUCH vs. ITO, WARD-1(4), BHARUCH

Assessee by Ms. Amrin Pathan, A.R Revenue by Mrs. Anupama Singla, Sr-DR Date of hearing 27.12.2021 Date of pronouncement 27.12.2021 Order under section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by assessee is directed against the orders of ld. Commissioner of Income tax (Appeals)-3, Vadodara, dated 25.08.2020, which in turn arises from the penalty imposed by Assessing Officer under section 271(1)(c) of the Income Tax Act, 1961 dated 29.09.2015 for assessment year 2012-13. The appeal came up hearing on today (27.12.2021). At the time of hearing the learned authorised representative (AR) of the assessee submits that the assessee has applied for seeking the benefits of Vivad se Visvas Scheme -2020 (VSV-20) in quantum assessment and settled dispute with the department and received Form-5 of VSV-20 from designated authority. The ld AR for the assessee further submits that once, the dispute in the quantum assessment is settled, the order of penalty would also be treated as settled. The learned AR for the assessee further submits that she may be allowed to withdraw this appeal.