The Income Tax Appellate Tribunal (ITAT) Delhi Bench dealt with an appeal by the ACIT against Sh. Subhash Chander Khaneja concerning the assessment year 2010-11. This case highlights the effective use of the Direct Tax Vivad Se Vishwas Scheme, 2020 to resolve disputes.
The case originated from discrepancies noted by the ACIT, Circle-52(1), New Delhi in the tax filings of Sh. Subhash Chander Khaneja for the year 2010-11. The initial proceedings were contested up to the CIT(Appeals) who delivered a decision on 24.01.2020.
On the date of hearing, documentation was provided showing that Sh. Khaneja opted to settle the ongoing appeal under the Vivad Se Vishwas Scheme. The competent authority accepted the assessee’s declaration and issued Form No. 5, signaling the closure of the dispute.
With no objection from the Departmental Representative, the Tribunal recognized the resolution under the scheme and deemed the appeal withdrawn, resulting in dismissal of the case. This decision was pronounced in the open court on 22nd February 2023.
This case underscores the utility of the Vivad Se Vishwas Scheme as a mechanism to streamline and conclude prolonged tax disputes efficiently. It serves as a pertinent example for other taxpayers considering similar settlement routes for resolving their disputes with the tax authorities.
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