M/S.MALVIYA JEWELLERS,ITARSI vs. INCOME TAX OFFICER WARD-1, ITARSI

This is a set of two Appeals by the Assessee for two consecutive years, i.e., assessment years 2012-13 & 2013-14, directed against the combined Order dated 12/9/2018 by the Commissioner of Income Tax (Appeals)-1, Bhopal (‘CIT(A)’ for short), confirming the levy of penalty under section 271(1)(c) of the Income Tax Act, 1961 ('the Act' hereinafter) by the Assessing Officer vide his separate orders of even date, i.e., 28/9/2015.

Adverting to the assessee’s withdrawal applications dated 23/6/2021 on record, it was, at the very outset, submitted by Ms. Agrawal, the ld. counsel representing the assessee, that the assessee has opted for ‘Vivad Se Viswas Scheme, 2019’, depositing the requisite sums (penalty) thereunder with the Central Government in terms of the Certificate under The Direct Tax Vivad Se 1