This case involves Tayal Farms & Leasing Pvt Ltd appealing against the order of the learned Commissioner of Income Tax (Appeals)-43, New Delhi, which pertains to the assessment year 2008-09.
The appeal was directed against a prior decision by the CIT(A) dated February 15, 2019. The dispute was related to tax arrears for the assessment year 2008-09 under the provisions of the Vivad Se Vishwas Scheme, 2020.
During the proceedings, the counsel for Tayal Farms & Leasing Pvt Ltd requested the withdrawal of the appeal, stating that the company has chosen to settle the dispute under the Vivad Se Vishwas Scheme. This decision was accompanied by a certificate under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020, substantiating the settlement.
The tribunal, after hearing both parties, accepted the request for withdrawal. Consequently, the appeal was dismissed as withdrawn. This conclusion was reached during a virtual hearing on March 12, 2021, and both parties were present.
The decision to withdraw the appeal under the Vivad Se Vishwas Scheme illustrates the potential for tax disputes to be settled through governmental schemes designed to reduce litigation and provide a straightforward path to dispute resolution.
ITA 1082/DEL/2020: Tayal Farms & Leasing Pvt Ltd vs. ITO Ward-25(1), New Delhi
Manage the increasing number of hearings effortlessly by leveraging the legal AI revolution We are India's Leading revolutionary AI-powered legal platform where you can get enough insights into top cases and judgements.
Research Platform