This review delves into the Income Tax Appellate Tribunal’s proceedings for ITA No. 5262/DEL/2019, where Spice Jet Limited challenged a penalty confirmed by CIT(A)-31 for the 2017-18 assessment year, only to later withdraw the appeal.
Spice Jet Limited faced a penalty under section 271C, imposed by the Assessing Officer and confirmed by CIT(A)-31. The penalty was originally levied due to undisclosed reasons within the assessment year 2017-18, highlighting issues in compliance.
The hearing, presided over by Smt Diva Singh, Judicial Member, and Dr. B.R.R. Kumar, Accountant Member, saw the appellant’s representative, Shri Tarandeep Singh, Advocate, formally withdraw the appeal. The withdrawal was accepted by the bench, given no objection from the Revenue represented by Sh. Nitin Kumar Jaiman, Sr. DR.
The withdrawal signifies Spice Jet Limited’s decision to accept the penalties as imposed, potentially indicating a resolution or a strategic decision to avoid prolonged litigation. This case underscores the procedural aspects of tax litigation where appellants may choose to withdraw their appeals for various reasons, reflecting on the broader compliance and strategic frameworks within corporate entities regarding tax disputes.
The dismissal of the appeal as not pressed marks a conclusive end to this particular legal dispute, emphasizing the importance of strategic considerations in managing corporate tax liabilities and litigation.
Spice Jet Limited vs. JCIT: Withdrawal of Penalty Appeal in ITA 5262/DEL/2019
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