This article provides a detailed review of the ITA 77/DEL/2019 case between Vinay Prakash Aggarwal and ACIT, Circle-40(1), New Delhi for the assessment year 2014-15, focusing on the decision to settle the case under the Vivad Se Vishwas Scheme.
Vinay Prakash Aggarwal, the appellant, contested the assessments made by the ACIT, Circle-40(1), New Delhi for the assessment year 2014-15. The case was taken up by the Income Tax Appellate Tribunal, Delhi Bench ‘C’.
The appellant sought to withdraw the appeal initially filed, opting instead for a resolution through the Vivad Se Vishwas Scheme, 2020, which is designed to provide a mechanism for resolution of pending tax disputes.
The Tribunal, upon reviewing the appellant’s request for withdrawal and the certificate of settlement under the Vivad Se Vishwas Act, accepted the withdrawal, leading to a dismissal of the appeal as withdrawn.
This case highlights the effectiveness of the Vivad Se Vishwas Scheme as a dispute resolution mechanism, providing a quicker resolution to tax disputes, thus reducing litigation and helping in de-clogging the judicial system. The case resolution underscores the importance of alternative dispute resolution in tax matters.
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