SHAILESH PURSHOTTAMDAS PATEL,AHMEDABAD vs. INCOME TAX OFFICER - WARD 3(3)(5) AHMEDABAD, VEJALPUR

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ITA 1921/AHD/2024Status: DisposedITAT Ahmedabad29 January 2025AY 2013-14Bench: SMT. ANNAPURNA GUPTA (Accountant Member), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)1 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The assessee's counsel filed an application to withdraw the appeal because the assessee opted to settle the dispute under the Vivad se Vishwas (VSV) scheme, 2024. The assessee paid the settlement amount as per the scheme.

What were the facts?

The assessee filed an appeal against an order passed by the CIT(A) for AY 2013-14. The grounds of appeal included additions for unexplained cash deposits, unexplained time deposits, and unexplained share trading transactions.

What were the issues?

Whether the appeal can be withdrawn by the assessee to settle the dispute under the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 271F

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, AHMEDABAD

Before: SMT. ANNAPURNA GUPTA & SHRI SIDDHARTHA NAUTIYAL

For Respondent: Shri B P Srivastav, Sr. DR
Pronounced: 29.01.2025

(Assessment Year: 2013-14) Shailesh Purshottamdas Patel, Vs. The Income Tax Officer, Shakamba Bunglows, Ward 3(3)(5) Nr. Swami Vivekanand Chowk, Ahmedabad Memnagar, Ahmedabad-380052. [PAN No.ACOPP7262K] (Appellant) .. (Respondent) Appellant by : Withdrawal Application Respondent by: Shri B P Srivastav, Sr. DR 27.01.2025 Date of Hearing Date of Pronouncement 29.01.2025 O R D E R PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER:

This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax (Appeal), Ahmedabad, National Faceless Appeal Center Delhi (in short “Ld. CIT(A)”), passed for A.Y. 2013-14.

2.

The Assessee has taken the following grounds of appeal:-

1. Addition on account of unexplained cash deposit in Bank Account.

2. Without prejudice to our claim & contentions, if the addition on account of Unexplained cash deposit in bank account is confirmed then the same may restricted to Rs.3,29,000/- 3. Addition on account of Unexplained Time deposit in Bank. 4. Addition on account of Unexplained Share Trading Transaction.

5. Initiation of Penalty Proceedings u/s.271(1)(c) of the Act.

6. Initiation of Penalty proceedings u/s.271F of the Act.

3.

In this case, the Ld. Counsel for the assessee has filed an application for withdrawal of present appeal on the ground that the assessee has opted to settle the dispute under the Vivas se Vishwas(VsV) scheme, 2024. The relevant portion of the letter dated 23.01.2025 submitted before us is reproduced below for ready reference. “ With reference to above, we have to state that we have opted to settle the dispute under the Vivad se Vishwas (VSV) scheme, 2024. Form 1 was duly filed on 11-12-24 vide ACK no. 749159920111224. Subsequently, Form 2 was received on 09-01-25 vide ACK no. 811489571090125 asking us to pay Rs. 16,45,287/- (Annexure 1) Accordingly, we have paid Rs. 16,45,287/- on 23-01-25 (Copy enclosed-Annexure 2)”

5.

In view of above, the appeal of the assessee is hereby dismissed as withdrawn.

This Order pronounced in Open Court on 29.01.2025

Sd/- Sd/- (ANNAPURNA GUPTA) (SIDDHARTHA NAUTIYAL) ACCOUNTANT MEMBER JUDICIAL MEMBER (True Copy) Ahmedabad; Dated 29.01.2025 Manish, Sr. PS TRUE COPY आदेश क� �ितिलिप अ�ेिषत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. 3. संबंिधत आयकर आयु� / Concerned CIT 4. आयकर आयु�(अपील) / The CIT(A)- 5. िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड� फाईल / Guard file. आदेशानुसार/ BY ORDER,

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