2021 (9) TMI 732 - SC - Income Tax

Benefit under the Direct Tax Vivad Se Vishwas Act, 2020 - Penalty u/s 271D - violation of the provisions of Section 269SS - HELD THAT - When the present petitions are taken up for further hearing, Shri C.U. Singh, learned senior counsel appearing for the petitioner seeks permission to withdraw the Special Leave Petitions as the petitioner proposes to avail the benefit under the Direct Tax Vivad Se Vishwas Act, 2020. In that view of the matter, the Special Leave Petitions stand dismissed as withdrawn unconditionally with the above mentioned liberty. As and when any application is made, the same be considered in accordance with law and on its own merits for which we have not expressed anything in favour of any party.

Summary

The Supreme Court dismissed the Special Leave Petitions unconditionally as the petitioner intends to avail benefits under the Direct Tax Vivad Se Vishwas Act, 2020. The issue involved imposition of penalty under Section 271D of the Income Tax Act for violation of Section 269SS. Any future application will be considered based on its merits without expressing any favoritism towards any party.