RAM TULSIDAS JAGWANI,CBD BELAPUR vs. ADDLLE. CIT-TDS RANGE, THANE

2 & ITA No.1771/M/2019 Ram Tulsidas Jagwani The above titled appeals have been preferred by the assessee against the order dated 17.01.2019 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment years 2009-10 & 2010-11.

Both these appeals have been preferred by the assessee against the confirmation of penalty as imposed by the AO under section 272A(2)(k)/274 read with section 200(3) of the Act.

At the outset, the Counsel of the assessee submitted that the assessee is going in for Vishwas Se Vivad Scheme (VSVS) 2020 and therefore leave this discretion to the Bench as to how to deal with these appeals.

Since the assessee is going in for VSVS 2020 we are inclined to dismiss the appeals of the assessee in view of the decision of Hon’ble Madras High Court in the case of Nannu Samy Mohan (HUF) vs. ACIT TCA No.372 of 2020 with the liberty to assessee to get these appeals recalled in case assessee does not succeed in VSVS 2020. Accordingly, both these appeals are dismissed.