Leading Estate Ltd., New Delhi V. ACIT Circle-15(1), New Delhi

ITA 1189/DEL/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 6581 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-06-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2014-2015
• Appeal Filed On: 13-02-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

Page 1 of 3 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’: NEW DELHI BEFORE, SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA No.1189/Del/2019 (ASSESSMENT YEAR 2014-15) M/s Leading Estates Ltd. J-47, Sanatan Dharam Mandir Lane Ramesh Nagar Delhi-110 015 PAN-AAACL 8928R Vs. Asst.CIT Crcle-15 (1), New Delhi (Appellant) (Respondent) Appellant By Sh. V. Rajkumar, Advocate Respondent by Ms. Garima Sharma, Sr. DR ORDER PER ANADEE NATH MISSHRA, AM: (A) This appeal by Assessee is filed against the order of Learned Commissioner of Income Tax (Appeals)-5, New Delhi [Ld. CIT(A)”, for short], dated 16.01.2019 for Assessment Year 2014-15. Grounds taken in this appeal of Assessee are as under: “1. That on facts and in the circumstances of the case and in law the learned CIT(Appeals) erred in confirming the action of the AO levying penalty under section 271(1) (c) of the Income Tax Act, 1961 and holding the assessee guilty of filing inaccurate particulars of income and concealment of income. ITA No.1189/Del/2019 M/s Leading Estates Ltd. vs. ACIT Page 2 of 3 The above action being most arbitrary, erroneous and unlawful, it is prayed that the same be quashed.” (B) In the course of appellate proceedings in Income Tax Appellate Tribunal (“ITAT”, for short) the Learned Authorized Representative (“Ld. AR”, for short) for the assessee submitted a letter informing that the assessee has opted for Vivad se Vishwas Scheme, 2020 (“VSVS”, for short) and that the Designated Authority has already issued Form-5 under VSVS. A copy of Form-5 issued by the Designated Authority was also enclosed with the aforesaid letter. At the time of hearing, the Ld. AR submitted that the appeal has become infructuous in view of the assessee opting for VSVS; and that the appeal may be dismissed as withdrawn. Learned Senior Departmental Representative was in agreement with this. After due consideration and in view of the foregoing, we are of the opinion that this appeal has become infructuous on account of aforesaid VSVS, and that this appeal may be treated as withdrawn on account of the aforesaid VSVS. Accordingly, this appeal having become infructuous, is treated as withdrawn and is hereby dismissed. ITA No.1189/Del/2019 M/s Leading Estates Ltd. vs. ACIT Page 3 of 3 (B.1) Before we part, we hereby clarify, by way of abundant caution, that if for some reason the disputes under this appeal before us are not settled under the aforesaid VSVS, then the assessee will be at liberty to approach ITAT for restoration of this appeal in accordance with law. (C) In the result, this appeal is dismissed. This order was already pronounced orally on 16 th June, 2022 in Open Court, in the presence of representatives of both sides, after conclusion of the hearing. Now this order in writing is signed today on 16.06.2022. Sd/- Sd/- (SAKTIJIT DEY) (ANADEE NATH MISSHRA) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated:16.06.2022 Pk Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW, DELHI