Versatile Vinimay Pvt. Ltd., Delhi V. ITO, Ward- 26(2), New Delhi

ITA 4228/DEL/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 3744 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-08-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2008-2009
• Appeal Filed On: 08-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 27; 43

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F” DELHI BEFORE SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER I.T.A. No.4228/DEL/2019 Assessment Year 2008-09 Versatile Vinimay Pvt. Ltd., 1705, 4 th Floor, Onkar Bhawan, Bhagirath Place, Chandni Chowk, New Delhi. v. ITO, Ward-26(2), New Delhi. TAN/PAN: AACCV6712F (Appellant) (Respondent) Appellant by: Shri Aman Garg, CA Respondent by: Shri Anil Kumar Sharma, Sr. DR Date of hearing: 24 08 2022 Date of pronouncement: 24 08 2022 O R D E R PER PRADIP KUMAR KEDIA, A.M.: Th e cap tio n ed ap peal h as b een fil ed b y th e Assessee ag ain st th e o rd er o f th e C o mmiss io n er o f In co me Tax (Ap p eals)-XXVIII, New Delh i [‘CIT( A)’ in sh o rt] d a te d 3 0 .0 4 .2 01 9 arisi n g fro m th e p en alty o rd er d ate d 2 6 .0 3 .20 1 8 p assed u n d er Sectio n 2 7 1 (1)(c) o f th e In co me Tax Ac t, 1 9 6 1 (th e Act) c o n cern in g AY 2008 -0 9 . 2 . At th e o u tset, ld . co u n sel fo r th e a ss essee su bmi tt ed th at th e p en alty i mp o sed u n d er ch allen g e arises fro m th e assess men t fra med b y th e Assessin g Offi cer u n d er Sectio n 1 43 (3). The ad d itio n s/d is al lo wan ces resu l tin g i n imp o si tio n o f p en alty h as I.T.A. No.4228/Del/2019 2 sin ce b een sett led u nd er Viv ad Se Vish was Sch eme 2 02 0 fo r wh ich fo rm n o .5 is su ed u n d er th e Sch eme was ad v erted . 3 . In th e lig h t o f su c h fact s wh ere th e ad d itio n s/disa l lo wan ces in th e q u an tu m p ro ceed in g s stan d s sett l ed u nd er Viv ad Se Vish was Sch eme 2 0 2 0 , th e p en alty imp o sed d o es no t su rv iv e in term o f Sch eme . Co n seq u en tly , th e p en a lty i mp o sed is can ce ll e d . 4 . In th e resu l t, th e a p p eal o f th e asses s ee is a l lo wed . Order pronounced in the open Court on 24/08/2022. Sd/- Sd/- [CHANDRA MOHAN GARG] [PRADIP KUMAR KEDIA] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: /08/2022 Prabhat