JAYANTIBHAI P.PATEL,ANKALESHWAR vs. ACIT, BHARUCH CIRCLE-2, BHARUCH

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ITA 43/SRT/2019Status: DisposedITAT Surat31 August 2020AY 2011-123 pages
AI SummaryDismissed

What did the Tribunal hold?

The assessee filed an application to withdraw the appeal as they had applied under the 'Vivad Se Vishwas' scheme. The Revenue had no objection to the withdrawal.

What were the facts?

The assessee filed an appeal against a penalty levied under Section 271(1)(c) for the Assessment Year 2011-12. The penalty was related to business development expenditure treated as unexplained R&D expenses and non-deduction of TDS.

What were the issues?

Whether the penalty levied under Section 271(1)(c) is sustainable. The appeal was withdrawn by the assessee to avail the 'Vivad Se Vishwas' scheme.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, SURAT BENCH, SURAT

Before: SHRI PAWAN SINGH & DR. ARJUN LAL SAINI

For Respondent: Shri O P Meena (Sr. DR)

O R D E R PER PAWAN SINGH, JUDICIAL MEMBER:

1.

This appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax, Appeals-5 [in short “the CIT(A)-5”], Vadodara dated 06/04/2017, which in turn arises against penalty levied u/s.271(1)(c) by the Assessing Officer (AO) by order dated 25/03/2020 for the Assessment Year (AY) 2011-12.

2.

The assessee has raised the following grounds:-

“1. CIT(A) has erred in not deleting the penalty on Rs.584500/- being the business development expenditure added by A.O. on account of Unexplained R & D expenses and on account of Non deduction of TDS thereon. The A.O. has levied penalty treating the same as inaccurate

/AY.2011-12/ Jayantibhai P Patel particulars and levied penalty U.S.271(1)(c) on the same. CIT(A) has not appreciated facts and retained penalty.

Leavy of penalty being not as per law requested to be delete.

2. Your appellant requests for leave to add, to delete, to omit, to amend all or any of the grounds of appeal at or before the time of final disposal of the appeal.”

3. This appeal has taken up for hearing on the application filed by assessee vide application dated 24/01/2019. In the said application the assessee has contended that he has applied under scheme “Vivad Se Vishwas” and has received approval from Principal Commissioner of Income Tax (in short “the PCIT”), Vadodara-3 under Form 3. The assessee prayed for withdrawal of the appeal to enable him for filing of Form 4 of Direct Tax “Vivad Se Vishwas” (VSV). The assessee has also placed on record a copy of Form 3 of “Vivad Se Vishwas” Scheme, Acknowledgement No.456289270110820. Copy of the application for withdrawal of the appeal is also supplied to Revenue for their record.

4.

None appeared on behalf of assessee when the appeal was listed for hearing. The ld. Senior Departmental Representative (Sr. DR) appearing for the Revenue has no objection, if the appeal of the assessee is dismissed as withdrawn to enable the assessee for filing Form 4 in compliance of “Vivad Se Vishwas” Scheme.

5.

Considering the contents of application dated 24/08/2020 filed by the assessee, the appeal of the assessee in dismissed as withdrawn.

/AY.2011-12/ Jayantibhai P Patel

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