JALVAYU TOWER APARTMENT OWNERS ASSOCIATION,GURGAON vs. ITO WARD - 2(2), GURGAON

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ITA 8229/DEL/2019Status: DisposedITAT Delhi02 December 2022AY 2013-142 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal set aside the issue to the AO to verify if the quantum additions were settled under the VSV Act 2020. If settled, the AO was directed to grant the benefit of the VSV Act 2020 to the assessee regarding the penalty.

What were the facts?

The assessee appealed against the CIT(A)'s order confirming the penalty levied under Section 271(1)(c). The assessee had opted to settle tax arrears under the VSV Scheme 2020, which led to the withdrawal of the appeal against quantum additions.

What were the issues?

Whether the penalty under Section 271(1)(c) is sustainable when the assessee has settled the related tax arrears under the VSV Scheme 2020.

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 ‘C’, NEW DELHI

Before: SH.N.K. BILLAIYA & SH. ANUBHAV SHARMA

Hearing: 08/12/2022Pronounced: 08/12/2022

PER N.K. BILLAIYA, AM: This appeal by the assessee is preferred against the order of the CIT(A)-2, Gurgaon dated 26.07.2019 pertaining to A.Y.2013-

14.2.

The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the levy of penalty u/s. 271 (1) (c) of the act.

3.

At the very outset the Counsel for the assessee drew our attention to the order of this Tribunal in ITA No.5885/Del/2016 dated 29.01.2021 pertaining to A.Y. 2013-14 and pointed out that the assessee has opted to settle the dispute relating to the tax arrears under the VSV Scheme 2020 and accordingly withdrew the appeal filed against the quantum additions which prompted the AO to levy penalty u/s. 271 (1) (c) of the Act.

4.

We have carefully perused the order of the authorities below and have also considered the decision of the coordinate Bench dismissing the appeal as withdrawn.

5.

On the given facts we set aside the issue to the files of the AO. The AO is directed to verify whether the quantum in relation to the additions made in A.Y.2013-14 has been settled under the VSV Act 2020 and if so then give the benefit to the assessee in respect of the penalty as per the relevant provisions of the VSV Act 2020. With these directions the appeal is restored back to the files of the AO and allowed for statistical purpose.

6.

Decision announced in the open court on 08.12.2022 (ANUBHAV SHARMA) ACCOUNTANT MEMBER *NEHA, Sr. Private Secretary* Date:- .12.2022

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