|
The Tax Publishers2020 TaxPub(DT) 4930 (Del-Trib) INCOME TAX ACT, 1961
Section 271(1)(c)
Where assessee opted for settlement of dispute relating to tax arrears for relevant assessment year under “The Direct Tax Vivad Se Vishwas Schemeâ€, and accordingly, it also filed Form No. 1 and 2 with Department; the instant appeal filed by the assessee against levy of penalty under section 271(1)(c), was liable to be dismissed.
|
Penalty under section 271(1)(c) - Direct Tax Vivad Se Vishwas Scheme - Assessee opted for settlement of dispute relating to tax arrears -
AO levied penalty under section 271(1)(c) upon assessee-company. Further, CIT (A) also confirmed such penalty. Aggrieved, assessee was in appeal. However, vide letter; the assessee stated that it opted to settle the dispute relating to tax arrears for assessment year under consideration under “The Direct Tax Vivad Se Vishwas Schemeâ€, 2020. Further, Form Nos. 1 and 2 filed with Department were also attached to the said letter. Accordingly, the assessee submitted that the matter might be adjourned. Held: On perusal of the letter along with Form No. 1 and 2 filed by assessee with Department, the instant appeal filed by the assessee was dismissed. However, dismissal of the appeal would be subject to a caveat that in case the dispute relating to tax arrears for the relevant assessment year would not be ultimately resolved in terms of “The Direct Tax Vivad Se Vishwas Schemeâ€, the assessee would be at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal would consider such application as per law.
REFERRED :
FAVOUR : Directions issued/Appeal dismissed
A.Y. : 2014-15
SUBSCRIBE FOR FULL CONTENT |