Shri Jaiminbhai Pannalal Inamdar, Baroda V. Dy. Commissioner of Income Tax, Circle-3(1), Baroda

ITA 1332/AHD/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 4087 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 8 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 23-05-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: L P JAIN
• Section: 271(1)(c)

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, AHMEDABAD [THROUGH VIRTUAL COURT] BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI PRADIPKUMAR KEDIA, ACCOUNTANT MEMBER ITA.NO.1332/AHD/2018 / ASSTT.YEAR : 2010-11 SHRI JAIMINBHAI PANNALAL INAMDAR 47/C, GITANJALI APARTMENT NR.JALARAM TEMPLE KARELIBAUG, VADODARA PAN : AAEPI 0979 A VS. DCIT, CIR.3(1) VADODARA. / (APPELLANT) / (RESPONDENT) ASSESSEE BY : SHRI MANISH J. SHAH REVENUE BY : SHRI L.P. JAIN, SR.DR / DATE OF HEARING : 15/02/2021 / DATE OF PRONOUNCEMENT: 15/02/2021 !'/ O R D E R PER RAJPAL YADAV, VICE-PRESIDENT ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL AGAINST O RDER OF THE LD.CIT(A)-3, BARODA PASSED FOR THE ASSTT.YEAR 2010- 11 WHEREBY THE LD.CIT(A) CONFIRMED ACTION OF THE AO IN CONFIRMING PENALTY OF RS.14,49,383/- IMPOSED UNDER SECTION 271(1)(C) OF T HE INCOME TAX ACT, 1961. 2. AT THE OUTSET, THE LD.COUNSEL FOR THE ASSESSEE H AS PLACED ON RECORD A COPY OF FORM NO.1 ALONG WITH FORM NO.1 BEING FORM F OR FILING DECLARATION AND UNDERTAKING FOR EXERCISING OPTION T O AVAIL BENEFIT TO ITA NO.1332/AHD/2018 2 SETTLE THE CASE OF THE ASSESSEE UNDER DIRECT TAX VI VAD SE VISHWAS ACT, 2020. IN OTHER WORDS, THE ASSESSEE WANTS TO RESOLV E THE ISSUE WITH THE DEPARTMENT BY AVAILING BENEFIT UNDER VIVAD SE VISHW AS SCHEME, AND NECESSARY FORMALITIES HAVE BEEN COMPLETED, AND THER EFORE, THE APPEAL OF THE ASSESSEE REQUIRES TO BE WITHDRAWN IN TERMS OF S CHEME. THE LD.DR HAS NO OBJECTION IF THE APPEAL OF THE ASSESSEE IS T REATED TO BE WITHDRAWN IN TERMS OF SCHEME OPTED BY THE ASSESSEE. 3. IN THE LIGHT OF THE ABOVE SUBMISSION MADE BY ASS ESSEE, WE FIND NO REASON TO KEEP PENDING APPEAL OF THE ASSESSEE BEFOR E THE TRIBUNAL. ACCORDINGLY, THE APPEAL OF THE ASSESSEE STANDS DISM ISSED. HOWEVER, IN THE EVENT, THE ASSESSEE FAILS TO AVAIL THE BENEFIT OF VSV SCHEME FOR ANY REASONS, THEN THE ASSESSEE WILL BE AT LIBERTY TO SE EK RESTORATION OF ORIGINAL APPEAL FOR ADJUDICATION BEFORE ITAT IN ACCORDANCE W ITH LAW. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE STANDS DISMISSED UNDER VSV SCHEME. ORDER PRONOUNCED IN THE COURT ON 15 TH FEBRUARY, 2021 AT AHMEDABAD. SD/- SD/- (PRADIPKUMAR KEDIA) ACCOUNTANT MEMBER (RAJPAL YADAV) VICE-PRESIDENT AHMEDABAD; DATED 15/02/2021