This case discusses the appeal of Naresh Kumar & Sons against the Income Tax Officer, Ward-42(3), New Delhi for the assessment year 2015-16, which was ultimately settled under the Vivad se Vishwas Scheme.
Naresh Kumar & Sons, located at 811-812, Aggarwal Cyber Plaza – I, Netaji Subhash Place, Pitampura, Delhi, faced tax disputes for the assessment year 2015-16. The appeal was initially directed against the order of the CIT(A)-43, dated December 26, 2019.
During the proceedings, no representative for Naresh Kumar & Sons appeared at the virtual hearing. A letter from the assessee’s counsel requested the withdrawal of the appeal, citing their decision to opt for the Vivad se Vishwas Scheme, 2020, to settle the tax arrears related to the assessment year under consideration. A certificate confirming their participation in the scheme was also presented.
The Tribunal, after reviewing the submissions and the absence of any objections from the Senior DR, accepted the withdrawal request. The appeal was officially dismissed as withdrawn on August 31, 2021.
This case highlights the utilization of the Vivad se Vishwas Scheme as a mechanism to resolve tax disputes effectively. It serves as an example for other taxpayers considering similar avenues to settle longstanding tax issues.
ITA 706/DEL/2020: Naresh Kumar & Sons vs. ITO Ward-42(3) – Settlement Under Vivad se Vishwas Scheme
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