CHANDRA PRAKASH JAISWAL,ALLAHABAD vs. INCOME TAX OFFICER WARD-2(1), ALLAHABAD

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ITA 142/ALLD/2019Status: DisposedITAT Allahabad18 December 2020AY 2010-113 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for the Vivad Se Vishwas Scheme to settle the dispute. Consequently, the assessee requested to withdraw the appeal.

What were the facts?

The assessee appealed an addition of Rs. 25,75,000 treated as income from other sources, which the assessee claimed was agricultural income from the sale of trees. The assessee subsequently opted for the Vivad Se Vishwas Scheme, 2019.

What were the issues?

Whether the income from the sale of trees is agricultural income and if interest under Section 234B is leviable. The appeal was withdrawn due to opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 234B

AI-generated summary — verify with the full judgment below

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Income Tax Appellate Tribunal, ALLAHABAD BENCH, ALLAHABAD

Before: SHRI.VIJAY PAL RAO & SHRI. RAMIT KOCHAR

For Appellant: Mr. S. Khanduja, CA
For Respondent: Mr. A.K. Singh, Sr. DR
Hearing: 18.12.2020Pronounced: 18.12.2020

PER SHRI VIJAY PAL RAO, JUDICIAL MEMBER:

1.

This appeal by the assessee is directed against the order dated 13.08.2019 of CIT(A) for the assessment year 2015-16. The assessee has raised the following grounds:- “

1. BECAUSE the learned ACIT erred both on facts and in law in making an addition of Rs.25,75,000/- under the head income from other sources which the appellant derived from sale of trees planted during 1991 to 1997 and treated as agricultural income following the decision of the Hon’ble Supreme Court in the case of CIT v Raja Benoy Kumar Sahas Roy (1957) 32 ITR 466 (SC.) in which conditions laid down have been fulfilled for treating income derived from planted sale of trees as agricultural income.

2. BECAUSE irrespective of the quantum of assessment and the dispute raised it is contended that interest under section 234B is not leviable.

M/s Veekay Connectors Pvt. Ltd. 3. BECAUSE order of the learned ACIT is generally erroneous bad both on facts and in law and is against the principals of natural justice. 4. BECAUSE with regard to the grounds of appeal, the appellant begs to refer and rely upon the averments made in the accompanying Statement of Facts also that is being filed along-with the memo of appeal itself.”

2.

At the time of hearing, learned AR of the assessee has stated at bar that the assessee has already opted for Vivad Se Vishwas Scheme, 2019 and therefore does not want to pursue the present appeal. Thus he has pleaded that the present appeal of the assessee may be allowed to be withdrawn. The learned AR has also filed an application dated 18th December, 2020 alongwith copy of Form No. 1 and 2 under the Vivad Se Vishwas Scheme, 2019. The learned DR has not raised any objection if the appeal of the assessee is dismissed as withdrawn.

3.

Accordingly, in view of the fact that the assessee has already opted for Vivad Se Vishwas Scheme, 2019 to settle / resolve the dispute as well as by considering the prayer of the assessee the appeal of the assessee is dismissed being withdrawn. It is clarified that in case the competent authority declined to approve the application under the Vivad Se Vishwas Scheme, 2019 the assessee shall have a liberty to revive the present appeal. The appeal of the assessee is dismissed as withdrawn. 4. In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open Court on 18.12.2020 through video conferencing. Sd/- Sd/- [RAMIT KOCHER] [VIJAY PAL RAO] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 18/12/2020 sh

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