This case analysis covers the proceedings and resolution of the appeal between the Income Tax Officer from Ward-4(4), New Delhi, and Bhartiya Rail Bijlee Company Ltd for the assessment year 2014-15. The case illustrates the application of the Vivad Se Vishwas Scheme, 2020 to resolve outstanding tax disputes.
The appeals were directed against the orders of the learned CIT(A), New Delhi, related to assessment years 2012-13, 2013-14, and 2014-15. The essence of the dispute revolved around tax arrears which were sought to be settled under the newly implemented Vivad Se Vishwas Scheme.
Detailed hearings took place through video conferencing due to the adjustments in judicial processes from the ongoing global health circumstances. The significant turn of events came when the assessee opted to settle the disputes under the Vivad Se Vishwas Scheme, effectively leading to the withdrawal of the appeals.
The tribunal, presided over by Shri G.S. Pannu, Vice President, and Shri K.N. Chary, Judicial Member, accepted the withdrawal of the appeals by the assessee post their opting for the dispute resolution scheme. This action was unopposed by the Senior DR, reflecting a mutual agreement towards the resolution.
This case highlights the effectiveness of alternative dispute resolution mechanisms in tax litigation, showcasing how such frameworks can lead to expedient and mutually agreeable outcomes, reducing the burden on the judiciary and the parties involved.
The resolution of this case under the Vivad Se Vishwas Scheme not only settled the immediate tax liabilities but also set a precedent for similar disputes, encouraging more entities to opt for this resolution pathway.
Detailed Examination of ITA 996/DEL/2019: ITO vs Bhartiya Rail Bijlee Company Ltd for AY 2014-15
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