M/S. GURUPRASAD FINANCIAL SERVICES PVT. LTD,GODHARA vs. THE DCIT, CENTRAL CIRCLE-1, VADODARA

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ITA 42/AHD/2019Status: DisposedITAT Ahmedabad07 January 2022AY 2012-132 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 allowed the assessee's request to withdraw the appeal as the assessee had opted for the Vivad Se Vishwas scheme. The assessee was granted liberty to seek restoration if the scheme benefits were not availed for bonafide reasons.

What were the facts?

The assessee filed an appeal against a penalty order. During the pendency of the appeal, the assessee opted for the Direct Tax Vivad Se Vishwas Act, 2020 scheme. Consequently, the assessee sought to withdraw the appeal.

What were the issues?

Whether an appeal can be withdrawn by the assessee upon opting for the Vivad Se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 271B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, AHMEDABAD

Before: SHRI WASEEM AHMED

For Respondent: Shri S. S. Shukla, Sr. DR
Hearing: 07/01/2022

आदेश/O R D E R

PER MADHUMITA ROY, JM:

1.

The captioned appeal has been filed at the instance of the assessee against the order of the Commissioner of Income Tax (Appeals)-12, Ahmedabad (‘CIT(A)’ in short), dated 15.11.2018 arising in the penalty order dated 20.08.2015 passed by the DCIT, Central Cirlce-1, Baroda under Section 271B of the Income Tax Act, 1961 (the Act) concerning AY 2012-13.

2.

When the matter was called for hearing, it is pointed out to the Bench that the assessee has filed declaration and undertaking in Form No. 1 as per provisions of the Direct Tax Vivad Se Vishwas Act, 2020 for availment of the benefit under the scheme. In view of this, the Ld. Counsel for the assessee submitted that assessee does not want to pursue the said appeal owing to exercise of option for availing VSV Scheme and it has complied with the requisite formalities, and sought permission for withdrawal of appeal before the Tribunal. The Ld. Counsel has placed on record copy of Form No. 1 and 2.

3.

The Ld. Departmental Representative for the Revenue stated that he has no objection to withdraw the appeals in the circumstances narrated on behalf of the assessee.

4.

In the light of written requests made on behalf of the captioned party, the appeal is dismissed as withdrawn. However, in the event, the assessee fails to avail the benefit of VSV Scheme for any bonafide reasons, then the assessee concerned will be at liberty to seek restoration of original appeal for hearing before ITAT in accordance with law.

5.

In the result, the captioned appeal is dismissed as withdrawn. This Order pronounced on 07/01/2022

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