M/S Acid & Chemicals Co v. Commissioner Of Income Tax (Appeals)-Xviii

IN THE HIGH COURT OF GUJARAT AT AHMEDABADR/TAX APPEAL NO. 484 of 2011 ========================================================== M/S ACID & CHEMICALS CO Versus COMMISSIONER OF INCOME TAX (APPEALS)-XVIII ========================================================== Appearance: MR KETAN H SHAH(2705) for the Appellant(s) No. 1RULE SERVED(64) for the Opponent(s) No. 1LD SR ADV.MR.MANISH BHATT for the Opponent (s) No.1 ========================================================== CORAM: HONOURABLE MS. JUSTICE SONIA GOKANIandHONOURABLE MR. JUSTICE HEMANT M. PRACHCHHAK Date : 28/10/2021 ORAL ORDER (PER : HONOURABLE MS. JUSTICE SONIA GOKANI) 1. For considering the substantial question of law on 25.01.2012, this Court has admitted this appeal. Following is thesubstantial question of law. “(i) Whether on the facts and in the circumstances ofthe case the Tribunal was right in law in upholding thepenalty under Section 271(1)(c) in respect of the additionof investment which it upheld under Section 68 in thehands of the assessee in assessment appeal?” 2. Learned advocate, Mr.Ketan Shah submits that the appellant is desirous of availingthe benefit of Vivad Se Vishwas Scheme andForm No.3 has already been received. Once he withdraws the pending tax appeal, hewill be given the Form No.4 and therefore, the Court may permit to withdraw thepresent appeal. 3. Acceding to the request, the Tax Appeal is disposed of as not pressed, withoutentering into the merits and expressing anyopinion.entering into the merits and expressing anyopinion. 4. If for some reasons the appellant isunable to avail the benefit of the scheme,it shall be open for the appellant to takelegal recourse, available under the law.unable to avail the benefit of the scheme,it shall be open for the appellant to takelegal recourse, available under the law. Sd/- (SONIA GOKANI, J) M.M.MIRZA Sd/- (HEMANT M. PRACHCHHAK,J)