This case review focuses on the resolution of a tax dispute involving SBBJ Employees Urban Cooperative Thrift & Credit Society Ltd and the Income Tax Officer, Ward 52(5), New Delhi, for the assessment year 2015-16 under the Vivad Se Vishwas Scheme.
The society opted to settle tax arrears for the assessment year 2015-16 through the Vivad Se Vishwas Scheme, a government initiative aimed at reducing litigation in tax disputes.
The tribunal examined the procedural validity of the society’s decision to withdraw its appeal and opt for the tax settlement. The decision underscores the scheme’s role in facilitating efficient tax dispute resolution.
This case illustrates the practical impacts of the Vivad Se Vishwas Scheme on streamlining tax litigation. It serves as a precedent for other entities considering similar settlements and provides insights into the judicial handling of such cases.
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