ODEON BUILDERS PVT. LTD.,NEW DELHI vs. DCIT, CENTRAL CIRCLE-1, NEW DELHI

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ITA 6797/DEL/2018Status: HeardITAT Delhi08 September 2022AY 2002-034 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 regarding immunity under the Vivad se Vishwas Act. The appeals were restored to the Assessing Officer for verification and decision as per law.

What were the facts?

The assessee's appeals concerned the levy of penalty under Section 271(1)(c) for multiple assessment years. The assessee claimed immunity under the Vivad se Vishwas Act, 2020, as the quantum additions had been settled under that scheme.

What were the issues?

Whether the assessee is eligible for immunity from penalty under Section 271(1)(c) due to settlement of quantum additions under the Vivad se Vishwas Act, 2020.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 3

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI ‘E’ BENCH,

Before: SHRI N.K. BILLAIYA, & SHRI KUL BHARAT

For Appellant: Shri S.K. Gupta, CA
For Respondent: Shri Jeetender Chand, Sr. DR
Hearing: 08.09.2022Pronounced: 08.09.2022

Heard together (3 matters)

ITA No. 6797/DEL/2018
ITA No. 6798/DEL/2018
ITA No. 6799/DEL/2018

Read from the judgment's own cause title. This page is filed under one of them.

PER N.K. BILLAIYA, ACCOUNTANT MEMBER:-

1.

The above captioned three separate appeals by the assessee are preferred against three separate orders of the ld. CIT(A) - 26, New Delhi dated 27.08.2018 and 27.06.2019 pertaining to Assessment Years 2002-03, 2003-04 and 2004-05.

2.

Since common issues are involved in all the three captioned appeals, they were heard together and are disposed of by this common order for the sake convenience and brevity.

3. The common grievance in all the three appeals relate to the levy of penalty u/s 271(1)(c) of the Income-tax Act, 1961 [hereinafter referred to as 'The Act'] , though the quantum of penalty may differ in each Assessment Year under consideration.

3.

At the very outset, the ld. counsel for the assessee stated that qua the dispute in respect of quantum additions in the respective Assessment Years have been settled under the Vivad se Vishwas Act, 2020 and, therefore, the assessee is eligible for immunity provided u/s 3 of the Vivad se Vishwas Act, 2020.

4.

The ld. DR fairly conceded to this.

5.

We have carefully perused the impugned orders vis-a-vis Form No. 5 issued by the designated authority for the respective Assessment Years. We have also carefully perused Section 3 of the Vivad se Vishwas Act, 2020. We find force in the contention of the ld. counsel for the assessee.

6.

We, therefore, restore the impugned appeals to the file of the Assessing Officer. The Assessing Officer is directed to verify the details in Form No. 5 qua the levy of penalty u/s 271(1)(c) of the Act for respective Assessment Years r.w.s 3 of the Vivad se Vishwas Act, 2020 and if the claim of the assessee is found to be correct, then decide the issue as per the provisions of law.

7.

In the result, all the three appeals of the assessee in ITA Nos.

6797/DEL/2018, 6798/DEL/2018 and 6799/DEL/2018 are allowed for statistical purposes.

The order is pronounced in the open court on 08.09.2022.

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