CONCEPT STUDIO (INDIA) PVT. LTD.,NEW DELHI vs. ITO, CIRCLE- 6(2), NEW DELHI

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ITA 6118/DEL/2017Status: DisposedITAT Delhi01 March 2021AY 2013-143 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The tribunal treated the appeal as withdrawn and dismissed it as infructuous due to the assessee's settlement under the Vivad Se Vishwas Scheme. The assessee can approach the tribunal for restoration if the settlement is not finalized.

What were the facts?

The assessee filed an appeal against a penalty order. During the hearing, the assessee informed the tribunal that they had opted to settle the appeal under the Vivad Se Vishwas Scheme.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to settlement under the Vivad Se Vishwas Scheme.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

This appeal by Assessee is filed against the order of Learned Commissioner of Income Tax (Appeals)-15, New Delhi, [“Ld. CIT(A)”, for short], dated 19.06.2017 for Assessment Year 2013-14. Grounds taken in this appeal of Assessee are as under:

“1. That the Learned CIT (Appeals)-XV has erred in confirming penalty of Rs. 20,76,450/- u/s 271(1)(c) of the Act having regard to the facts and circumstances of the case.

ITA No.-6118/Del/2017 M/s. Concept Studio (India) Pvt. Ltd. 2. That the order was against the law and facts of the case. 3. That the appellant craves the leave to add, modify, amend or delete any or all of the Grounds of appeal at or before the hearing and all the above grounds are without prejudice to each Other.”

(B) At the time of hearing, at the outset, the learned Counsel for the Assessee informed us that the assessee has opted to settle the appeal under Vivad Se Vishwas Scheme, 2020 (“VSVS”, for short) and that the assessee has already filed the relevant forms. The Ld. Counsel for assessee also drew our attention to letter dated 25th February, 2021 filed in Income Tax Appellate Tribunal (“ITAT”, for short) giving intimation for the same, and requesting to withdraw the appeal.

(B.1) At the time of hearing before us, the Ld. Counsel for assessee submitted before us that this appeal may be treated as withdrawn and may be dismissed on account of the aforesaid VSVS. After due consideration, and in view of the foregoing; we are of the view that this appeal has become infructuous, and we treat this appeal as withdrawn on account of the aforesaid VSVS. Accordingly, this appeal having become infructuous, are hereby dismissed as withdrawn, subject to settlement of the disputes in the appeal under the aforesaid VSVS.

(C) Before we part, we hereby clarify, by way of abundant caution, that if for some reason the disputes under this appeal before us are not settled under the aforesaid VSVS, then the assessee will be at liberty to approach ITAT for restoration of this appeal, in accordance with law.

ITA No.-6118/Del/2017 M/s. Concept Studio (India) Pvt. Ltd. (D) In the result, this appeal is dismissed. Order pronounced in open court on 01/03/2021

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