Case Law Analysis
|Income Tax Appellate Tribunal
DTVSV Act 2020 Section 5 Immunity | Penalty u/s 271(1)(c) Quashed Post-Scheme Settlement : ITAT Jaipur
The ITAT Jaipur bench quashed penalty under Section 271(1)(c) after the assessee settled quantum dispute under the Direct Tax Vivad Se Vishwas Scheme 2020, holding that Section 5 grants immunity from penalty post-scheme settlement. This ruling clarifies that penalty proceedings cannot survive once a dispute is resolved under the DTVSV Act.