DEEPAK VELJIBHAI SHAH,JAMNAGAR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1, JAMNAGAR, JAMNAGAR

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ITA 925/RJT/2024Status: DisposedITAT Rajkot05 March 2025AY 2014-15Bench: DR. ARJUN LAL SAINI, AM. DINESH MOHAN SINHA (Judicial Member)1 pages

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

AI SummaryAllowed

What did the Tribunal hold?

The Assessing Officer made additions under section 69, and the assessee sought to withdraw the appeal to settle tax arrears under the Direct Tax Vivad se Vishwas Scheme, 2024. The Departmental Representative had no objection to the withdrawal.

What were the facts?

The assessee filed an appeal against an order passed by the Commissioner of Income Tax (Appeal), which arose from an order by the Assessing Officer under section 147 r.w.s. 144B of the Income Tax Act, 1961, for Assessment Year 2013-14. During the hearing, the assessee's AR moved an application to withdraw the appeal.

What were the issues?

Whether the appeal can be withdrawn by the assessee to avail the Direct Tax Vivad se Vishwas Scheme for settlement of tax arrears.

Which sections of the Income-tax Act were involved?

Section 147,Section 144B,Section 148,Section 69,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAJKOT BENCH, RAJKOT

Before: DR. ARJUN LAL SAINI, AM. &

For Appellant: Shri Kaushal Rachch, Ld. AR
For Respondent: Shri Sanjay Pungalia, Ld. Sr. (DR)
Hearing: 04/03/2025Pronounced: 05/03/2025

Assessment Year: (2012-13) (Hybrid Hearing) Room No. 222, 2nd floor, Deepak Veljibhai Shah, Vs. 27, Rajdeep, Aaykar Bhawan, Near Subhash Digvijay Plot, Bridge, Jamnagar- Rajkot Jamnagar 361005 Highway, Jamnagar 360001 �थायीलेखासं./जीआइआरसं./PAN/GIR No.: AFHPS5503G (Appellant) (Respondent) Appellant by : Shri Kaushal Rachch, Ld. AR Respondent by : Shri Sanjay Pungalia, Ld. Sr. (DR) Date of Hearing : 04/03/2025 Date of Pronouncement : 05/03/2025 आदेश / O R D E R PER DINESH MOHAN SINHA JM;

Captioned appeal filed by assessee pertaining to Assessment Year 2013- 14, is directed against order passed by Commissioner Of Income Tax (Appeal), vide order dated 14/10/2024, which in turn arises out of an order passed by the Assessing Officer dated 31/03/2022 u/s 147 r.w.s. of the Income Tax Act, 1961.

GROUNDS OF APPEALS:-

1.

The assessment order passed u/s. 147 r.w.s. 144B is bad in law. Page | 1

2.

The learned Assessing Officer has erred in law as well as on facts in issuing notice u/s. 148.

3.

The learned Assessing Officer has erred in law as well as on facts in making addition of Rs. 4,85,00,000/- in respect of alleged unexplained investment u/s. 69 of the Act. During the course of hearing the Ld. AR of the assessee has moved an application for requesting to withdraw the appeal of the assessee. The application for withdraw of appeal runs as under. “My Caption appeal bearing number ITA 925/RJT/2024 filed on 13/12/2024 for A.Y. 2014-15 against the CIT(A) order u/s. 250 dated 14/10/2024 is pending at present before Hon’ble ITAT. In the meantime, I have filed Form No. 1 (Declaration) under the Direct Tax Vivad se Vishwas Scheme, 2024 (here in after reffered to as ‘Scheme’) on 31/01/2025 for settlement of tax arrers.” That the Ld DR has to objection in case the assessee withdraw the appeal. We have heard the matter and accept the request of the Ld AR of the assessee. We permit to the assessee for withdraw the appeal. In result the appeal of the assessee is treated to be dismissed as withdraw.

Order pronounced in the open court on 05 /03 /2025.

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