This document provides a detailed analysis of the Income Tax Appellate Tribunal (ITAT) decision in the case between the Additional Commissioner of Income Tax (Addl.CIT), New Delhi, and Rathi Steel and Power Ltd. for the assessment year 2010-11.
The appeal, ITA No. 769/DEL/2019, was filed by Addl.CIT against Rathi Steel and Power Ltd. The case pertains to disputes for the assessment year 2010-11 over alleged tax discrepancies by the company.
The hearing was conducted through video conferencing on April 30, 2021, overseen by Shri G. S. Pannu, Vice President, and Shri Kul Bharat, Judicial Member of the ITAT.
In a significant development, the legal counsel for Rathi Steel and Power Ltd., via an email dated April 22, 2021, requested the withdrawal of the appeal, citing the company’s decision to settle the dispute under the Vivad Se Vishwas Scheme, 2020. The ITAT was provided with a certificate under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020, confirming that no amount was payable by the appellant.
With no objection from the Senior DR, the ITAT accepted the withdrawal request and dismissed the Department’s appeal, effectively resolving the dispute without further adjudication.
The resolution of the appeal under the Vivad Se Vishwas Scheme illustrates the effectiveness of alternative dispute resolution mechanisms in tax disputes, aiming to reduce litigation and facilitate amicable settlements between taxpayers and the tax authority.
The decision in ITA No. 769/DEL/2019 serves as a vital reference for resolving tax disputes through government schemes designed to minimize litigation and streamline the resolution process.
Case Summary: Addl.CIT vs. Rathi Steel and Power Ltd., Assessment Year 2010-11 (ITA 769/DEL/2019)
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