MR.SANJAY A. MAHADIK,MUMBAI vs. ACIT 26(3), MUMBAI

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ITA 6545/MUM/2018Status: DisposedITAT Mumbai28 December 2020AY 2009-102 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The tribunal dismissed the assessee's appeal as they had opted for the VSVS 2020. The assessee was granted liberty to recall the appeal if they did not succeed in the VSVS 2020.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order upholding a penalty for bogus purchases. The assessee informed the tribunal that they had opted for the Vishwas Se Vivad Scheme (VSVS) 2020.

What were the issues?

Whether the appeal should be dismissed due to the assessee opting for the VSVS 2020 scheme.

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, MUMBAI BENCH “G”, MUMBAI

Before: SHRI RAJESH KUMAR & SHRI RAM LAL NEGI

For Appellant: Shri Rajesh Kumar, A.R
For Respondent: Shri Srinivas Botta, D.R
Hearing: 07.11.2020Pronounced: 28.12.2020

Present for: Assessee by : Shri Rajesh Kumar, A.R. Revenue by : Shri Srinivas Botta, D.R. Date of Hearing : 07.11.2020 Date of Pronouncement : 28.12.2020 O R D E R

Per Rajesh Kumar, Accountant Member:

1.

The present appeal has been preferred by the assessee against the order dated 29.06.2018 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2009-10.

2.

The assessee has filed this appeal challenging the order of Ld. CIT(A) upholding the imposition of penalty of Rs.2,92,000/- as against made by the AO under section 271(1)(c) of the Act in respect of the addition of bogus purchases. At the outset, the Ld. Counsel of the assessee brought to the notice of the Bench that the assessee has gone in Vishwas Se Vivad Scheme (VSVS) 2020 and therefore the case may be adjourned.

2 Mr. Sanjay A. Mahadik 3. Since the assessee has gone into VSVS 2020, the appeal of the assessee is being dismissed pursuant to the ratio laid down by the 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 appeal recalled in case assessee does not succeed in VSVS 2020. Accordingly, the appeal of the assessee is dismissed.

Order pronounced in the open court on 28.12.2020.

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