Vineet Kumar Babbar, Delhi V. ITO, Ward-47(2), New Delhi

ITA 4190/DEL/2017

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 3624 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 3 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-10-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2011-2012
• Appeal Filed On: 23-06-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S N A NAZMI

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES G : DELHI BEFORE SMT. DIVA SINGH, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA.NO.4190/DEL./2017 ASSESSMENT YEAR 2011-12 VINEET KUMAR BABBAR 528, KATRA ISHWAR BHAWAN, KHARI BAOLI, DELHI. PAN NO. AAGPK5983Q VS. ITO WARD 47(2) NEW DELHI. (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI C.S. ANAND, ADV. FOR REVENUE : SHRI S. N.A. NAZMI, CIT DR DATE OF HEARING : 12 . 10 .202 1 DATE OF PRONOUNCEMENT : 13.10.2021 HEARING CONDUCTED VIA W EBEX ORDER PER DIVA SINGH, J.M . THE PRESENT APPEAL HAS BEEN FILED BY THE ASSESSEE, WHEREIN THE CORRECTNESS OF THE ORDER DATED 02.05.20 17 OF THE LD. CIT(APPEALS) PERTAINING TO 2011-12 ASSESSMENT YEAR IS ASSAILED ON VARIOUS GROUNDS: 1. THAT THE LD. CIT(A) HAS ERRED IN CONFIRMING THE PEN ALTY ORDER PASSED BY THE LD. AO WHILE NOT APPRECIATING THE FAC TUAL AND LEGAL SUBMISSIONS MADE BY THE ASSESSEE DURING THE COURSE OF APPELLATE PROCEEDINGS. 2. THAT THE LD. CIT(A) HAS ERRED IN NOT QUASHING THE P ENALTY ORDER, PARTICULARLY WHEN THE ASSESSEE HAD SPECIFICALLY POI NTED OUT THAT AT THE TIME OF INITIATING THE PENALTY PROCEEDINGS, THE CHARGE WAS NOT SPECIFIED BY THE LD. AO. ITA.NO.4190/DEL./2017 VINEET KUMAR BABBAR PAGE 2 OF 4 3. THAT THE LD. CIT(A) HAS ERRED IN NOT QUASHING THE P ENALTY ORDER, PARTICULARLY WHEN IT WAS A SETTLED PROPOSITION OF L AW THAT WHERE CHARGE WAS NOT SPECIFIED, PENALTY ORDER CANNOT SU RVIVE. THE LD. CIT(A) HAS NOT DISCUSSED IN THE APPELLATE O RDER, THE CASE LAWS RELIED UPON BY THE ASSESSEE DURING THE COURSE OF APPELLATE PROCEEDINGS. 4. THAT THE LD. CIT(A) HAS ERRED IN SUSTAINING THE IMP OSITION OF PENALTY ON ACCOUNT OF ADDITION OF RS. 39,03,819/- MADE W.R. T. CESSATION OF LIABILITIES U/S 41(1), PARTICULARLY WHEN IT WAS DOU BTFUL AS TO IN WHICH YEAR SUCH LIABILITIES WERE CEASED. 5. THAT THE LD. CIT(A) HAS ERRED IN SUSTAINING THE IMP OSITION OF PENALTY ON ACCOUNT OF ADDITION OF RS. 3,10,000/- MADE W.R.T . CASH DEPOSITS, PARTICULARLY WHEN THE EXPLANATION REGARDING SOURCE OF SUCH CASH, AS GIVEN BY THE ASSESSEE, COULD NOT BE DISPROVED BY TH E LD. AO. 2. AT THE TIME OF HEARING, LD. AR RELYING UPON THE APPLICATION FILED BY E-MAIL SUBMITS THAT THE ASSESSEE SEEKS TO WITHDRAW THE PRESENT APPEAL AS THE DISPUTE HAS BEEN SETTLED IN V IVAD SE VISHWAS SCHEME, 2020 AND NECESSARY TAXES ETC. HAVE BEEN PAID. LD. CIT DR SHRI NAZMI ON PERUSING THE SAME SUBMITTE D THAT HE HAS NO OBJECTION TO THE WITHDRAWAL OF THE ASSESSEE S APPEAL IN THE CIRCUMSTANCES. ACCORDINGLY, THE ADJOURNMENT AP PLICATION MOVED BY THE LD. SR. DR WAS WITHDRAWN ORALLY. 3. WE HAVE HEARD THE PARTIES AND PERUSED THE MATER IAL AVAILABLE ON RECORD. CONSIDERING THE SUBMISSIONS I N THE LIGHT OF THE FACTS ON RECORD THE APPEAL OF THE ASSESSEE, WE DIRECT MAY BE TREATED AS WITHDRAWN. ACCORDINGLY, THE APPEAL IS D ISMISSED AS WITHDRAWN. 4. HOWEVER, BEFORE PARTING BY WAY OF ABUNDANT CAUTI ON, WE DEEM IT APPROPRIATE TO OBSERVE THAT IN CASE IT IS F OUND BY THE ASSESSEE THAT THE DISPUTE UNDER THE APPEAL IS NOT F ULLY SETTLED UNDER THE VIVAD SE VISHWAS SCHEME THEN THE ASSESSEE WILL BE AT LIBERTY TO APPROACH THE ITAT WITH A PRAYER FOR REST ORATION OF THIS APPEAL IN ACCORDANCE WITH LAW. ITA.NO.4190/DEL./2017 VINEET KUMAR BABBAR PAGE 3 OF 4 5. IN THE RESULT, THE APPEAL IS DISMISSED AS WITHDR AWN. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (ANADEE NATH MISSHRA) (DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED 13/10/2021 *KAVITA ARORA, SPS COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT SMC-2 BENCH, DELHI 6. GUARD FILE. // BY ORDER // ASSISTANT REGISTRAR, ITAT DELHI BENCH ES : DELHI.