SRI. K. I. VENKATESH,BANGALORE vs. INCOME TAX OFFICER, WARD- 8(3), BANGALORE

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ITA 703/BANG/2020Status: DisposedITAT Bangalore07 December 2021AY 1998-992 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the issues contested in the appeal had been settled under the Vivad Se Vishwas Act. Consequently, the appeal was dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against a penalty levied under Section 271(1)(c) for the assessment year 1998-99. The assessee had also filed an application under the Direct Taxes Vivad Se Vishwas Act, 2020, for the quantum appeal.

What were the issues?

Whether the penalty appeal abates due to settlement of the quantum appeal under the Vivad Se Vishwas Act.

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, ‘C’ BENCH : BANGALORE

Before: SHRI. CHANDRA POOJARI & SMT. BEENA PILLAI

For Appellant: Smt. Priyadarshini

ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal by the assessee has been filed by assessee against the order dated 13.03.2012 by ITO, Ward-8(2), Bangalore u/s. 271(1)(c) of the Act for assessment year 1998-99.

2.

The Ld.AR submitted that the appeal relates to penalty levied u/s. 271(1)(c) of the Act. In the letter filed before us today, it is submitted that the assessee filed application under VSVS in respect of quantum appeal, filed before the Hon’ble High Court of Karnataka in ITA 52/2020.

Page 2 of The assessee has filed Form No. 4, 5 for the appeal filed by the assessee. Accordingly it is submitted that present penalty appeal get abated.

3.

We heard Ld D.R, who did not object to the prayer of the assessee. Since the issues contested in the appeal of the assessee have been settled under the Direct Taxes Vivad Se Vishwas Act, 2020, we dismiss the appeal of the assessee as withdrawn. However, we give liberty to the revenue/assessee to seek recall of this order in accordance with law, if the circumstances so warrant.

4.

In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open court on 07th December, 2021.

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