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2021 (6) TMI 737 - AT - Income TaxAddition on account of income from undisclosed sources on protective basis - assessee submits that the substantive addition was made in the hand of M/s Saheli Developers, wherein the assessee is one of the partner - assessee submits that M/s Saheli Developers accepted the addition and filed application for settlement of dispute on tax with the Department under VSVS Scheme, 2020 and have settled the case and paid due tax - HELD THAT:- As assessee has also filed the copy of the assessment order in case of Saheli Developer having PAN ABLFS 4624 G. further, we find that Saheli Developer filed application under VSV-20 for settlement of dispute of tax and the Designated Authority concern has issued Form-3 vide Acknowledgment No. 110537100060121 dated 06.01.2021, copy of which is also placed on record. Considering the facts and circumstances of the case that the substantive addition has been accepted by M/s Saheli Developers and they have paid the due tax by availing the benefit of VSV-20. Therefore, we direct the AO to verify the fact and delete the protective addition at the hand of the assessee. In the result, appeal of assessee is allowed for statistical purpose.
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