This case involves Shashi Jain, who appealed against the order of the CIT(A)-I, Gurgaon concerning the assessment year 2016-17. The appeal was eventually withdrawn as the assessee opted to settle under the Vivad Se Vishwas Scheme, 2020.
The dispute pertains to tax arrears for the assessment year 2016-17. Shashi Jain decided to resolve the issue through the Vivad Se Vishwas Scheme, which was introduced by the Government of India to settle pending disputes related to direct taxes.
During the proceedings, the assessee’s representative communicated via email the decision to withdraw the appeal in favor of settling the dispute under the Vivad Se Vishwas Act, 2020. The tribunal accepted the withdrawal following confirmation of the settlement certificate under Section 5(1) of the Act.
The appeal was dismissed as withdrawn on February 10, 2021. This case highlights the effective use of the Vivad Se Vishwas scheme to amicably resolve disputes without further litigation, providing a swift conclusion to longstanding tax disputes.
This case serves as an important precedent for taxpayers considering the Vivad Se Vishwas scheme as a viable option to settle tax disputes. It underscores the government’s initiative to reduce litigation and provide a straightforward path to dispute resolution.
Case Summary of ITA 1652/DEL/2020: Shashi Jain vs ACIT Circle-4(1), Gurgaon
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