ACIT, 14(1)(2), MUMBAI, MUMBAI vs. FORTRAN STEEL PRIVATE LIMITED, MUMBAI

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ITA 994/MUM/2024Status: DisposedITAT Mumbai13 February 2025AY 2011-12Bench: SHRI OM PRAKASH KANT (Accountant Member), MS. KAVITHA RAJAGOPAL ( (Judicial Member)1 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The assessee sought to withdraw the appeal as they had opted for the Vivad Se Vishwas Scheme. The appeal was dismissed as infructuous with liberty to file an application for recalling the appeal if the scheme application was not accepted.

What were the facts?

The Revenue preferred an appeal against the order of the Ld. CIT(A) relating to penalty under section 271(1)(c) of the Income-tax Act, 1961. The assessee had opted for the 'Vivad Se Vishwas' Scheme, 2024.

What were the issues?

Whether the appeal can be withdrawn by the assessee due to opting for the Vivad Se Vishwas Scheme.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, MUMBAI BENCH “F” MUMBAI

Before: SHRI OM PRAKASH KANT & MS. KAVITHA RAJAGOPAL

For Appellant: Mr. Prashant Barate, Sr. DR
Pronounced: 13/02/2025

This appeal has been preferred by the Revenue against order dated 05.01.2024 passed by the Ld. Commissioner of Income-tax (Appeals) – National Faceless Appeal Centre, Delhi [in short ‘the Ld. CIT(A)’] for assessment year 2011-12 in relation to penalty u/s 271(1)(c) of the Income-tax Act, 1961 (in short ‘the Act’).

2.

At the outset, the Ld. counsel for the assessee submitted that At the outset, the Ld. counsel for the assessee submitted that At the outset, the Ld. counsel for the assessee submitted that assessee has opted for has opted for ‘Vivad Se Vishwas’ Scheme, 2024 and Scheme, 2024 and therefore, assessee seeks to withdraw the present appeal. The Ld. therefore, assessee seeks to withdraw the present appeal. The Ld. therefore, assessee seeks to withdraw the present appeal. The Ld. counsel also filed a copy of the relevant Form counsel also filed a copy of the relevant Form submitted submitted before the prescribed authority which is placed on record. In view of request of authority which is placed on record. In view of request of authority which is placed on record. In view of request of the assessee for withdrawal of the appeal he assessee for withdrawal of the appeal, the appeal , the appeal is dismissed as infructuous with liberty to file an application for recalling the as infructuous with liberty to file an application for recalling the as infructuous with liberty to file an application for recalling the appeal in case the application of the assessee under ‘Vivad Se appeal in case the application of the assessee under appeal in case the application of the assessee under Vishwas Scheme’ finally not finally not accepted.

3.

In the result, the appeal of the Revenue is dismissed as In the result, the appeal of the Revenue is dismissed as In the result, the appeal of the Revenue is dismissed as withdrawn.

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