SHRI GURDEEP SINGH BASSI, PHILLAUR V. INCOME TAX OFFICER WARD-2, PHAGWARA

ITA 103/ASR/2022

AI Insights

The case involves an appeal by Sh. Gurdeep Singh Bassi against the order of the ld. CIT(A), which confirmed an addition of Rs.4,56,612/- to the assessee's income for the Assessment Year 2010-11. The addition was related to interest on bank deposits and was initially assessed on a protective basis. The Tribunal noted that a similar addition had been made in the case of Smt. Satwant Kaur Bassi, who had opted for the Vivad se Vishwas Scheme, resulting in a final settlement and nil assessment of her income. The Tribunal concluded that since the income of both the assessee and his spouse was assessed as nil, the addition in the assessee's case was without basis and thus deleted.

• Counselvise Citation: [2022] 140 COUNSELVISE.COM (IT) 114528 (ITAT-AMRITSAR)
• Duration Of Justice: 9 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-12-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 07-12-2022
• Assessment Year: misc
• Appeal Filed On: 17-02-2022
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Rectification of order
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 103/Asr/2022 Assessment Year: 2010-11 Sh. Gurdeep Singh Bassi, VPO Bundala, Teh. Phillaur, Distt. Jalandhar -144034 [PAN: AOEPB 7230F] Vs. Income Tax Officer, Ward-2, Phagwara (Appellant) (Respondent) Appellant by : None (Written submission) Respondent by : Smt. Ratinder Kaur, Sr. DR Date of Hearing: 08.12.2022 Date of Pronouncement: 12.12.2022 ORDER Per Dr. M. L. Meena, AM: This appeal has been filed by the assessee against the order dated 23.03.2022 passed by the ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi in respect of the Assessment Year 2010-11. ITA No. 103/Asr/2022 Gurdeep Singh Bassi v. ITO 2 2. None appeared for the assessee, however the written submission was filed dated 04.10.2022 with a request to grant relief by deleting the addition of Rs.4,56,612/- confirmed by the ld. CIT(A). 3. During the course of appellate proceedings, it was submitted before the ld. CIT(A) that in the case of Smt. Satwant Kaur Bassi w/o appellant assessee in whose case the assessment was confirmed on substantive basis opted for Vivad se Vishwas Scheme; and that a copy of full and final payment of tax disputed settlement order (Form 5) was passed dated 12.05.2021 under the Vivad se Vishwas Scheme. (APB pg. no. 1). Considering the fact regarding Smt. Satwant Kaur Bassi having availed the benefit under VSV Scheme 2020, the ld. CIT(A) decided the appeal in her case holding as infructuous for the identical addition of Rs.1,87,32,612/- being made on substantive basis. (APB pg. no. 2 to 3). 4. The appellant has contended that in view of the final settlement order passed in Form 5 on the disputed tax demand in the case of Satwant Kaur Bassi, the ld. AO has passed rectification order u/s 154 of the Income Tax Act, 1961 and he has deleted the addition made in the hands of the appellant in the assessment confirmed on the protective basis. The ld. CIT(A) has ignored the fact of the rectification order dated 02.02.2022 passed by the AO in the case of the appellant in confirming the addition of ITA No. 103/Asr/2022 Gurdeep Singh Bassi v. ITO 3 Rs.4,56,612/- without any basis. In our view, since the income of the assessee has been assessed as nil by the AO considering Form 5 in the case of Smt. Satwant Kaur Bassi under taxes Vivad se Vishwas Scheme, the ld. CIT(A) was not justified in confirming the addition of Rs.4,56,612/- on account of interest on the deposits of the bank on protective basis in the hands of the appellant because the interest income also stood assessed in the substantive assessment in the case of Satwant Kaur Bassi. 5. In the above view, we accept the grievance of the assessee as genuine and as such the addition of Rs.4,56,612/- is hereby deleted. The ground of appeal is allowed. 6. In the result, the appeal of the assessee is allowed. Order pronounced in the open court on 12.12.2022 Sd/- Sd/- (Anikesh Banerjee) (Dr. M. L. Meena) Judicial Member Accountant Member *GP/Sr/PS* Copy of the order forwarded to: (1) The Appellant: (2) The Respondent: (3) The CIT(Appeals) (4) The CIT concerned (5) The Sr. DR, I.T.A.T. True Copy By Order