9911796707
TMI Blog2021 (6) TMI 737X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. - ITA No.44/SRT/2018 - - - Dated:- 15-6-2021 - Shri Pawan Singh, Judicial Member And Dr. Arjun Lal Saini, Accountant Member For the Assessee : Shri Rasesh Shah CA For the Revenue : Ms. Anupama Singla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee was advised by his old counsel that there is no need to file appeal as the additions are made on protective basis, however, later on the assessee was later on advised to file appeal. The ld. Authorized Representative (AR) for the assessee submits that initially the assessee was advised not file appeal before the Tribunal as the addition of ₹ 1.29 crore on account of undisclosed income from undisclosed source was made at the hand of assessee on protective basis. The substantive addition was in case of M/s Saheli Developers, where the assessee is partner. The assessee was advised later on to challenge the addition before the Tribunal that in case substantive addition is not sustained in the hand of Saheli Developers, the protectiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt order. The ld. AR of the 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. The ld. AR submits that undertake to file the copy of Form-3 of VSVS Scheme, 2020 issued by designated authority to the M/s Saheli Developers. The ld. AR prayed that since the substantive addition has been accepted by M/s Saheli Developers, therefore, protective addition will not survive. 6. On the other hand, the ld. DR for the Revenue submits that the ld. CIT(A) passed the order ex-parte as the assessee failed to make the compliance of various notices, therefore, matter may be restored to the file of ld ..... X X X X Extracts X X X X X X X X Extracts X X X X
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