Concept Studio (India) Pvt. Ltd., New Delhi V. ITO, Circle- 6(2), New Delhi

ITA 6118/DEL/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 2592 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 5 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-03-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 29-09-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 271(1)(c)

Judgement Text

ITA NO.-6118/DEL/2017 M/S. CONCEPT STUDIO (INDIA) PV T. LTD. PAGE 1 OF 4 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: B: NEW DELHI) (THROUGH VIDEO CONFERENCING) BEFORE SH. KUL BHARAT, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA NO :- 6118/DEL/2017 ( ASSESSMENT YEAR: 2013-14) M/S. CONCEPT STUDIO (INDIA) PVT. LTD. 7 HARCHARAN BAGH, ANDHERIA MORH MEHRAULI, NEW DELHI-110030 VS. DCIT, CIRCLE-6(2), NEW DELHI APPELLANT RESPONDENT PAN NO: AAACP5431H REVENUE BY : NONE ASSESSEE BY : BALENDU, INST. PER ANADEE NATH MISSHRA, A.M.: THIS APPEAL BY ASSESSEE IS FILED AGAINST THE ORDER OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-15, NEW DELHI, [LD. CIT(A), FOR SHORT], DATED 19.06.2017 FOR ASSESSMENT YEAR 2013-14. GROUNDS TAKEN IN THIS APP EAL OF ASSESSEE ARE AS UNDER: 1. THAT THE LEARNED CIT (APPEALS)-XV HAS ERRED IN CONFIRMING PENALTY OF RS. 20,76,450/- U/S 271(1)(C) OF THE ACT HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE. ITA NO.-6118/DEL/2017 M/S. CONCEPT STUDIO (INDIA) PV T. LTD. PAGE 2 OF 4 2. THAT THE ORDER WAS AGAINST THE LAW AND FACTS OF THE CASE. 3. THAT THE APPELLANT CRAVES THE LEAVE TO ADD, MODI FY, AMEND OR DELETE ANY OR ALL OF THE GROUNDS OF APPEAL AT OR BEFORE TH E HEARING AND ALL THE ABOVE GROUNDS ARE WITHOUT PREJUDICE TO EACH OTHER. (B) AT THE TIME OF HEARING, AT THE OUTSET, THE LEARNED COUNSEL FOR THE ASSESSEE INFORMED US THAT THE ASSESSEE HAS OPTED TO SETTLE T HE APPEAL UNDER VIVAD SE VISHWAS SCHEME, 2020 (VSVS, FOR SHORT) AND THAT T HE ASSESSEE HAS ALREADY FILED THE RELEVANT FORMS. THE LD. COUNSEL FOR ASSESSEE ALSO DREW OUR ATTENTION TO LETTER DATED 25 TH FEBRUARY, 2021 FILED IN INCOME TAX APPELLATE TRIB UNAL (ITAT, FOR SHORT) GIVING INTIMATION FOR THE SAME, AND REQUESTING TO W ITHDRAW THE APPEAL. (B.1) AT THE TIME OF HEARING BEFORE US, THE LD. COUNSEL F OR ASSESSEE SUBMITTED BEFORE US THAT THIS APPEAL MAY BE TREATED AS WITHDR AWN AND MAY BE DISMISSED ON ACCOUNT OF THE AFORESAID VSVS. AFTER DUE CONSIDER ATION, AND IN VIEW OF THE FOREGOING; WE ARE OF THE VIEW THAT THIS APPEAL HAS BECOME INFRUCTUOUS, AND WE TREAT THIS APPEAL AS WITHDRAWN ON ACCOUNT OF THE AFORESAI D VSVS. ACCORDINGLY, THIS APPEAL HAVING BECOME INFRUCTUOUS, ARE HEREBY DISMISSED AS WITHDRAWN, SUBJECT TO SETTLEMENT OF THE DISPUTES IN THE APPEAL UNDER THE AFORESAID VSVS. (C) BEFORE WE PART, WE HEREBY CLARIFY, BY WAY OF AB UNDANT CAUTION, THAT IF FOR SOME REASON THE DISPUTES UNDER THIS APP EAL 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 AC CORDANCE WITH LAW. ITA NO.-6118/DEL/2017 M/S. CONCEPT STUDIO (INDIA) PV T. LTD. PAGE 3 OF 4 (D) IN THE RESULT, THIS APPEAL IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 01/03/2021 SD/- SD/- (KUL BHARAT) (ANADEE NATH MISSHRA) JUDICIAL MEMBER ACCOUNTA NT MEMBER DATED: 01/03/2021 *BINITA* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5.DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI