DR VIKAS JAGANNATH POL,PUNE vs. INCOME TAX OFFICER, WARD-11(2), PUNE, PUNE

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ITA 1618/PUN/2024Status: DisposedITAT Pune16 May 2025AY 2014-15Bench: DR.MANISH BORAD (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)1 pages

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

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal noted that the assessee had settled the quantum addition under the Direct Tax Vivad Se Vishwas Scheme, 2024, which entitled them to immunity from penalty. Consequently, the Tribunal accepted the assessee's request to withdraw the appeal.

What were the facts?

The assessee settled the quantum addition issue under the Direct Tax Vivad Se Vishwas Scheme, 2024. As part of this settlement, the assessee paid the tax demand and received Form No.3, indicating immunity from penalty. The appeal was filed against a penalty levied under section 271(1)(c) of the Income-tax Act, 1961.

What were the issues?

Whether the assessee is entitled to immunity from penalty after settling the quantum addition under the Direct Tax Vivad Se Vishwas Scheme, 2024, and can withdraw the appeal.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 6

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCHES “B”, PUNE

Before: DR.MANISH BORAD & SHRI VINAY BHAMORE

For Appellant: Shri Chandan Katariya
For Respondent: Shri Manish Mehta
Hearing: 14.05.2025Pronounced: 16.05.2025

आदेश / ORDER

PER DR. MANISH BORAD, ACCOUNTANT MEMBER :

1.

The captioned appeal at the instance of assessee pertaining to A.Y.2014-15 is directed against the order dated 08.12.2023 passed by CIT(A), Pune-11 arising out of Penalty Order dated 22.06.2017 passed u/s.271(1)(c) of the Income-tax Act, 1961.

2.

The only ground in the instant appeal is against the levy of penalty u/s.271(1)(c) of the Act at Rs.19,12,233/-.

3.

At the outset, Ld. Counsel for the assessee submitted that assessee has settled the quantum addition issue under the Direct Tax Vivad Se Vishwas Scheme, 2024 by filing Form No.1 and Form No.2 has been issued by the competent authority and after deposit of tax amount mentioned in Form No.2, Revenue authorities have generated Form No.3. He further submitted that since the impugned penalty has been levied on the quantum addition which has been settled therefore as per section 6 of Direct Tax Vivad Se Vishwas Scheme, 2024 the assessee is entitled to full immunity from imposition of penalty. He requested for withdrawal of the appeal to which ld. Departmental Representation did not raise any objection.

4.

We have heard both the sides and perused the record placed before us. We notice that the assessee has been visited with penalty u/s.271(1)(c) of the Act of Rs.19,12,233/- on the quantum addition of Rs.62.00 lakh. Assessee has settled the dispute for quantum addition by paying the tax demand payable under the Direct Tax Vivad Se Vishwas Scheme, 2024 and after successfully filing Form No.1 which has been accepted by the competent authority and Form No.2 has been issued. Assessee has deposited the tax demand of Rs.7,38,774/- and in lieu thereof Form No.3 has been generated. Before us, Ld. Counsel for the assessee has requested for withdrawal of the instant appeal as the assessee is entitled to immunity from imposition of penalty as per provisions of section 6 of Direct Tax Vivad Se Vishwas Scheme, 2024. Thus, we accept the request of Ld. Counsel for the assessee for withdrawal of this appeal and dismiss the instant appeal as ‘withdrawn’.

5.

In the result, appeal of the assessee is dismissed as ‘withdrawn’. Order pronounced on this 16th day of May, 2025.

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