SANJAY SINGH,NEW DELHI vs. ACIT, CIRCLE-33(1), NEW DELHI

PDF · subscribers
ITA 128/DEL/2020Status: DisposedITAT Delhi13 October 2023AY 2014-15Bench: SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)4 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 Tribunal held that since the disputed tax was settled under the Direct Tax Vivad se Vishwas Scheme, 2020, the assessee is automatically eligible for immunity from penalty proceedings. Therefore, the penalty levied is liable to be deleted.

What were the facts?

The assessee's appeal arose from a penalty order under Section 271(1)(c) of the Income Tax Act. The penalty was levied for allegedly furnishing inaccurate particulars of income related to the shifting of business loss.

What were the issues?

Whether the penalty under Section 271(1)(c) is sustainable when the underlying tax dispute has been settled under the Vivad se Vishwas Scheme, granting immunity from penalty.

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, DELHI BENCH ‘G’: NEW DELHI

For Appellant: CA &
Hearing: 11/10/2023Pronounced: 13/10/2023
4.

In the result, the appeal of the assessee is allowed. Order pronounced in the open court on 13th October, 2023.

More judgments on Section 271(1)(c)

All 25,141 judgments and leading authorities on Section 271(1)(c) →

Recent GST High Court judgments

Search GST case law →