Aakash Bajaj filed an appeal against the decision of the CIT(A)-14, New Delhi for the assessment year 2014-15. This case review discusses the circumstances leading to the withdrawal of his appeal in favor of settling under the Vivad Se Vishwas Scheme.
The appellant, Aakash Bajaj, contested the tax assessments made by the ITO, Ward-40(1), New Delhi. The initial appeal was against adjustments and tax liabilities imposed by the tax authorities.
On March 12, 2021, Bajaj opted to withdraw his appeal and settle the dispute under the Vivad Se Vishwas Scheme, 2020. This decision was accompanied by a certificate confirming the settlement under the scheme, leading to a consensual resolution of the dispute.
This segment delves into the legal and financial implications of choosing the Vivad Se Vishwas Scheme over continued litigation, highlighting the benefits and considerations for taxpayers choosing this route.
The article examines the procedural aspects of withdrawal from litigation under the Vivad Se Vishwas Scheme, including the legal framework, taxpayer obligations, and the role of the judiciary in facilitating such settlements.
The resolution of ITA 1398/DEL/2019 under the Vivad Se Vishwas Scheme exemplifies the government’s initiative to reduce litigation and provide taxpayers with a mechanism to settle disputes efficiently. This case serves as a reference point for similar future disputes.
Settlement of Aakash Bajaj’s Tax Dispute Under Vivad Se Vishwas Scheme in ITA 1398/DEL/2019
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