Jalvayu Tower Apartment Owners Association, Gurgaon V. ITO WARD - 2(2), Gurgaon

ITA 8229/DEL/2019

AI Insights

The case involves the Jalvayu Tower, Apartment Owners Association appealing against the order of the CIT(A)-2, Gurgaon, which confirmed the levy of penalty under section 271(1)(c) of the Income Tax Act. The appellant had previously opted to settle disputes related to tax arrears under the VSV Scheme 2020, which led to the withdrawal of their appeal against quantum additions. This withdrawal prompted the AO to levy a penalty under section 271(1)(c). The Tribunal decided to set aside the issue to the AO to verify the settlement under the VSV Act 2020 and to adjust the penalty accordingly.

• Counselvise Citation: [2022] 140 COUNSELVISE.COM (IT) 116148 (ITAT-DELHI)
• Duration Of Justice: 3 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-12-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 07-12-2022
• Assessment Year: misc
• Appeal Filed On: 15-08-2022
• Other Referred Cases: ITA No.5885/Del/2016
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’, NEW DELHI BEFORE SH.N.K. BILLAIYA, ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.8229/Del/2019 Assessment Year: 2013-14 Jalvayu Tower, Apartment Owners Association, Plot No.37-40, Jalvayu Tower, Sector-56, Gurgaon -122001 PAN No.AAAJJ0275G Vs ITO Ward- 2 (2) Gurgaon (APPELLANT) (RESPONDENT) Appellant Sh. Deepak Kataria, CA Respondent Sh. Rvind Kumar Bansal, Sr. DR Date of hearing: 08/12/2022 Date of Pronouncement: 08/12/2022 ORDER PER N.K. BILLAIYA, AM: This appeal by the assessee is preferred against the order of the CIT(A)-2, Gurgaon dated 26.07.2019 pertaining to A.Y.2013- 14. 2. The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the levy of penalty u/s. 271 (1) (c) of the act. 3. At the very outset the Counsel for the assessee drew our attention to the order of this Tribunal in ITA No.5885/Del/2016 dated 29.01.2021 pertaining to A.Y. 2013-14 and pointed out that 2 the assessee has opted to settle the dispute relating to the tax arrears under the VSV Scheme 2020 and accordingly withdrew the appeal filed against the quantum additions which prompted the AO to levy penalty u/s. 271 (1) (c) of the Act. 4. We have carefully perused the order of the authorities below and have also considered the decision of the coordinate Bench dismissing the appeal as withdrawn. 5. On the given facts we set aside the issue to the files of the AO. The AO is directed to verify whether the quantum in relation to the additions made in A.Y.2013-14 has been settled under the VSV Act 2020 and if so then give the benefit to the assessee in respect of the penalty as per the relevant provisions of the VSV Act 2020. With these directions the appeal is restored back to the files of the AO and allowed for statistical purpose. 6. Decision announced in the open court on 08.12.2022 Sd/- Sd/- (ANUBHAV SHARMA) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER *NEHA, Sr. Private Secretary* Date:- .12.2022 Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI