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

The Income Tax Appellate Tribunal has dismissed the appeal filed by Concept Studio (India) Pvt. Ltd. against a penalty imposed under Section 271(1)(c) of the Income Tax Act. The dismissal occurred because the assessee opted to settle the dispute under the Vivad Se Vishwas Scheme, 2020. The appeal was treated as withdrawn and dismissed as infructuous, with a provision for restoration if the settlement under the scheme is not finalised.

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
APPELLANT 
PAN No: AAACP5431H

Vs.

DCIT,
Circle-6(2),
New Delhi
RESPONDENT

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 appeal 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. 

2. That the order was against the law and facts of the case.

3. That the appellant craves the leave to add, modify, amend or delete any or all of the Grounds of appeal at or before the 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 the appeal under Vivad SeVishwas Scheme, 2020 (“VSVS”, for short) and that the assessee has already filedthe relevant forms. The Ld. Counsel for assessee also drew our attention to letterdated 25th February, 2021 filed in Income Tax Appellate Tribunal (“ITAT”, for short) giving intimation for the same, and requesting to withdraw the appeal.

(B.1) At the time of hearing before us, the Ld. Counsel for assessee submittedbefore us that this appeal may be treated as withdrawn and may be dismissed on account of the aforesaid VSVS. After due consideration, and in view of the foregoing; we are of the view that this appeal has become infructuous, and we treatthis appeal as withdrawn on account of the aforesaid VSVS.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 abundant caution, that if for some reason the disputes under this appeal before us are notsettled under the aforesaid VSVS, then the assessee will be at liberty to approach ITAT for restoration of this appeal, in accordance with law. 
 
(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                      ACCOUNTANT 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