This article provides an in-depth analysis of the Income Tax Appellate Tribunal’s decision for ITA No. 303/DEL/2019 concerning Genesis Conbuild Pvt. Ltd., New Delhi, against the Income Tax Officer, Ward-10(1), New Delhi.
The case involves an appeal against the tax arrears for the assessment year 2009-10. Genesis Conbuild Pvt. Ltd. filed the appeal on January 16, 2019, and it was heard and pronounced on January 13, 2021.
The primary issue in this case was the settlement of tax arrears under the Vivad Se Vishwas Scheme, 2020. The appellant, Genesis Conbuild Pvt. Ltd., decided to opt for this scheme to resolve the dispute related to their tax arrears for the assessment year under consideration.
During the proceedings, the counsel for the assessee, Sh. Vipin Garg, submitted a letter dated January 6, 2021, requesting the withdrawal of the appeal. The letter, received via email, indicated that the appellant had chosen to settle the tax arrears under the Vivad Se Vishwas Scheme, 2020. A certificate under Section 5(1) of the Direct Tax Vivad Se Vishwas Act, 2020, was also filed to support this request.
The Senior Departmental Representative (DR), Sh. Ajay Kumar, had no objection to the withdrawal request. Given the circumstances, the Tribunal accepted the request for withdrawal.
This decision highlights the effectiveness of the Vivad Se Vishwas Scheme, 2020, in resolving tax disputes. The scheme allows taxpayers to settle their tax arrears by paying a determined amount, thereby reducing litigation and facilitating quicker resolution of tax disputes.
The Tribunal’s acceptance of the withdrawal request underlines the scheme’s role in providing an amicable resolution pathway for taxpayers and the tax department.
The Tribunal’s decision to dismiss the appeal as withdrawn emphasizes the importance of the Vivad Se Vishwas Scheme, 2020, in the Indian tax system. It showcases the scheme’s potential in reducing litigation and helping taxpayers settle their disputes efficiently.
This case sets a precedent for other taxpayers considering the scheme, demonstrating its practicality and the supportive approach of the Tribunal in facilitating such resolutions.
Vivad Se Vishwas Appeal Analysis: ITA 303/DEL/2019 – Genesis Conbuild Pvt. Ltd. vs ITO
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