The tax appeal filed by Subhanshu Jain against the order of the Ld. CIT(A)-16, New Delhi for the assessment year 2014-2015 concluded with a withdrawal following the successful application of the Vivad Se Vishwas Scheme, 2020.
Subhanshu Jain, a resident of Delhi, contested the income tax assessment for the AY 2014-15. The dispute revolved around issues that were later resolved under the Vivad Se Vishwas Scheme, which aims to reduce litigation in direct taxes.
The hearing, conducted via video conferencing due to ongoing restrictions, led to the withdrawal of the appeal. The decision was facilitated by the issuance of Form No.5 by the Department, confirming the settlement of disputes under the scheme.
This case highlights the effectiveness of the Vivad Se Vishwas Scheme as a tool for resolving tax disputes and reducing pending litigation. It reflects the government’s approach to encourage settlements and ease the burden on the judicial system.
The resolution of this case under the Vivad Se Vishwas Scheme showcases the potential for similar future disputes to be settled amicably, promoting a more cooperative environment between taxpayers and the tax authorities.
Settlement of Tax Dispute Under Vivad Se Vishwas Scheme: Subhanshu Jain vs. ITO, Ward-46(5), Delhi
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