PROMA INDUSTRIES LTD.,MUMBAI vs. ITO-10(3)(4), MUMBAI

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ITA 1787/MUM/2020Status: DisposedITAT Mumbai25 April 2022AY 2010-113 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal allowed the assessee to withdraw its appeal as the dispute was settled under the Vivad Se Vishwas Scheme. The appeal was accordingly dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against a penalty order under Section 271(1)(c) of the Income Tax Act. The assessee subsequently submitted that the issue in dispute was settled under the Vivad Se Vishwas Scheme and sought to withdraw the appeal.

What were the issues?

Whether the appeal can be withdrawn by the assessee due to settlement under the Vivad Se Vishwas Scheme.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 “C” MUMBAI

Before: SHRI OM PRAKASH KANT & SHRI RAHUL CHAUDHARY

For Respondent: Mr. B.K. Bagchi, DR
Hearing: 25/04/2022Pronounced: 25/04/2022

PER OM PRAKASH KANT, AM

1.

This appeal has been preferred by the assessee against the order dated 11.03.2020 passed by the Ld. Commissioner of Income Tax (Appeals)-17, Mumbai [in short ‘the Ld. CIT(A)’] in relation with penalty u/s 271(1)(c) of the Income Tax Act (in short ‘the Act’) levied by the Assessing Officer. The grounds raised by the assessee are reproduced as under :

Proma Industries Ltd. 2

1. Under the facts and circumstances of the case and law, the Ld. CIT(A) erred in confirming penalty u/s 271(1)(c) of Rs.3,89,569/- made by the Assessing Officer.

2.

At the outset, the Ld. Counsel of the assessee submitted that issue in dispute has been settled under Vivad Se Vishwas Scheme and therefore, the assessee seeks to withdraw the appeal.

3.

The Ld. Departmental Representative (DR) did not object. The request of the assessee withdrawing appeal has been placed on the file.

3.1 In view of the above, the assessee is allowed to withdraw its appeal and accordingly same is dismissed as withdrawn.

4.

In the result, the appeal of the assessee is dismissed.

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