MANGALCHAND SUNIL KUMAR,K G F vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 4(2)(1), BENGALURU

This appeal is filed by the assessee and the same is directed against the order of learned CIT(A)-4, Bengaluru dated 04.07.2019, for Assessment Year 2012-13.

In this appeal, the assessee has raised various grounds but the only issue raised by the assessee is regarding levy of penalty of Rs.5,21,775/- under section 271(1)(c) of the Income Tax Act, 1961 (hereafter called ‘the Act’).

In the course of hearing, it is seen that on 25.08.2020, the assessee has filed a letter in which it is stated that the assessee has opted to file an application under Vivad Se Vishwas Act, 2020 and the necessary Form Nos. 1 and 2 under the said Act were filed on 20.05.2020. It is also stated in the Page 2 of 2 said application that under section 5(1) of the said Act, the pending appeal is deemed to have been withdrawn on the issue of Form 3 by the designated authority and the assessee has received form 3 dated 11.08.2020 and after receipt of form 3, the assessee has filed a letter before the Tribunal on 13.08.2020 in which it is stated by the assessee that the assessee intends to withdraw the appeal filed by the assessee. It is stated by the assessee in the present application that the present appeal may be dismissed s withdrawn. Learned DR of the Revenue had no objection for withdrawal of the appeal.

In the result, assessee’s appeal is dismissed as withdrawn.