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 Scheme”, 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 Scheme”, 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 Scheme”, 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



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