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Facts
The assessee filed an appeal under Section 253(1) of the Income Tax Act, 1961, challenging a penalty order dated 28/05/2001, passed under Section 271(1)(c) for Assessment Year 1997-98 by the Jt. Commissioner of Income Tax, which was subsequently upheld by the CIT(A) under Section 250.
Held
The assessee opted for the 'Direct Tax Vivad se Vishwas Scheme, 2024' (VSVA Scheme) and submitted a letter requesting the withdrawal of the present appeal. The tribunal dismissed the appeal as withdrawn, granting leave to the assessee to revive the appeal if the issue remains unsettled under the VSVA Scheme.
Key Issues
Whether the penalty order passed under Section 271(1)(c) of the Income Tax Act, 1961, for AY 1997-98 was valid, which subsequently led to the withdrawal of the appeal by the assessee after opting for the Vivad se Vishwas Scheme.
Sections Cited
253(1), 250, 271(1)(c)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, PANAJI BENCH, PANAJI
Before: HON’BLE SHRI PAVAN KUMAR GADALE & SHRI G. D. PADMAHSHALI
V/s Jt. Commissioner of Income Tax, Special Range, Panaji, Goa. . . . . . . . Respondent Appearances Assessee by : Mr B Y Pyatil [‘Ld. AR’] Revenue by : Ms Deepali Kalbandhe [‘Ld. DR’] Date of conclusive Hearing : 11/02/2025 Date of Pronouncement : 11/02/2025 ORDER PER G. D. PADMAHSHALI, AM; The present appeal of the assessee is instituted u/s 253(1) of the Income Tax Act, 1961 [‘the Act’ hereinafter] challenging the DIN & Order No ITBA/APLS/M/250/2021-22/1036063300(1) dt. 30/09/2021 passed by the Commissioner of Income Tax Appeals-2, Panaji Goa, [‘Ld. CIT(A)’ hereinafter] u/s 250 of the Act which in turn upheld the order of penalty dt. 28/05/2001 passed u/s 271(1)(c) of the Act by the Jt. Commissioner of Income Tax, Special Range, Panaji Goa [‘Ld. AO’ hereinafter] anent to assessment year 1997-98 [‘AY’ hereinafter] ITAT-Panaji Page 1 of 2
M/s Gangadhar Narshingdas Agrawal (HUF) Vs Jt. CIT AY 1997-98
At the physical hearing, the Ld. AR appearing on behalf of appellant adverting to the letter of withdrawal submitted that, vide Form-1 Ack No 835081470220125 dt. 22/01/2025 the appellant assessee has opted for ‘Direct Tax Vivad se Vishwas Scheme, 2024’ [‘VSVA’ hereinafter] to settled the present dispute. The issuance of Form-2 Ack in its case is pending before designated Revenue authority. Therefore, in compliance of VSVA- Scheme the appellant by the written application dt. 10/02/2025 is seeking withdrawal of present appeal. The Revenue could hardly object the request.
In view thereof, we dismiss the present appeal of the assessee as withdrawn with a grant of leave to revive the same in accordance with law if the issue disputed under the present appeal remains unsettled under the opted VSVA scheme for any reasons.
In result, the appeal of the Assessee is DISMISSED as withdrawn. In terms of rule 34 of ITAT Rules, 1963 the order is pronounced in the open court on date mentioned herein before.
-S/d- -S/d- PAVAN KUMAR GADALE G. D. PADMAHSHALI JUDICIAL MEMBER ACCOUNTANT MEMBER Panaji/Dt: 11th February, 2025. Copy of the Order forwarded to :
1. 1. The Appellant.
2. The Respondent.