Loading judgment…
Facts
The assessee filed an appeal against a penalty order dated 26-06-2019 under Section 271B of the Income Tax Act, 1961, for the assessment year 2016-17. The AO had levied a penalty of Rs. 1,50,000/- for failure to get accounts audited.
Held
The tribunal noted that the assessee had filed an application to withdraw the appeal as they intended to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2024.
Key Issues
Whether the appeal should be dismissed as withdrawn based on the assessee's intention to settle the dispute under the Direct Tax Vivad Se Vishwas Scheme.
Sections Cited
271B
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, JAIPUR BENCHES, “SMC-Bench” JAIPUR
Before: SHRI GAGAN GOYAL, AM & SHRI NARINDER KUMAR, JM vk;djvihy la-@ITA No. 1549/JP/2024
vkns'k@ORDER PER: NARINDER KUMAR, JUDICIAL MEMBER On 28-12-2024, the assessee filed present appeal challenging the order passed by ld. CIT(A), NFAC, Delhi on 30-10-2024, relating to the assessment year 2016-17, whereby his appeal against the penalty order dated 26-06-2019 passed u/s 271B of the Income Tax Act, 1961 (for short ‘’Act’’) was dismissed.
RAJESH KUMAR KAPOOR VS ITO WARD 5(2), JAIPUR 2. Vide the penalty order, AO levied penalty of Rs.1,50,000/- upon the assessee, u/s 271B of the Act, on the ground that the assessee had failed to get the accounts audited as required under the law.
Today, the appeal has been put up with an application presented on 24-02- 2025 on behalf of the appellant. In the application, the prayer is that this appeal be dismissed as having been withdrawn, the reason being that the appellant has moved appropriate application for settlement of the dispute availing of benefit of Direct Tax Vivad Se Vishwas Scheme, 2024. Alongwith application, copy of Form No. 2 has been submitted.
Having regard to the prayer in the application and that the appellant intends to get the matter settled under Direct Tax Vivad Se Vishwas Scheme, 2024, as requested and as not opposed to, this appeal deserves to be dismissed as having been withdrawn. Result 5. As a result, this appeal is dismissed as having been withdrawn . However, it is made clear that in case no settlement is arrived under the said Scheme, the assessee -appellant shall be at liberty to move appropriate application for revival of the the appeal, and that too in accordance with law.