2022 (11) TMI 1016

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n of income was filed on 15.09.2017 declaring total income at Rs.1,00,39,030. The assessment was completed u/s 143(3) of the I.T.Act vide order dated 30.12.2019 determining total income of Rs.1,01,68,982. In the said assessment order, the Assessing Officer had made an observation that the assessee had received cash of Rs.50,00,000 on entering into a sale agreement of a property and portion of the same was deposited to the bank account of the assessee during the demonetisation period. Against the order passed u/s 143(3) of the I.T.Act, the assessee preferred an appeal before the first appellate authority. During the course of appellate proceedings, the matter was settled under Vivad Se Vishwas Scheme 2020 (VSVS 2020). 3. Subsequently, pen....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lant as withdrawn and infructuous without cancelling the impugned penalty order passed by the National Faceless Assessment Centre under Section 271D of the Act dated 14.02.2022 or without giving a direction to the learned assessing officer to issue refund of penalty after considering the fact of the appellant availing the benefit of Vivad Se Vishwas Scheme- 2020 and Form No.5 was granted by the designated authority in the appellate order on the facts and circumstances of the case. 3. Without Prejudice, the learned Commissioner of Income Tax [Appeals] erred in passing the appellate order without following principles of natural justice and not providing sufficient opportunity to the Appellant in making submissions in support of his c....