Franchise India Brands Ltd. faced a tax dispute for the assessment year 2016-17, where the appeal was filed against the Additional Commissioner of Income Tax (ACIT), CPC-TDS, Ghaziabad. The case was recorded under ITA No.1277/Del/2019.
The appeal was initially directed against the order of learned CIT(A)-30, New Delhi, dated January 10, 2019. During the proceedings, held via video conferencing due to prevailing circumstances, no representatives for Franchise India Brands appeared. Instead, they submitted a letter requesting the withdrawal of the appeal, stating their decision to opt for resolution under the Vivad Se Vishwas Scheme, 2020, which was aimed at reducing litigation in direct taxes.
The tribunal accepted the withdrawal request after the Senior DR expressed no objection. Consequently, the appeal was dismissed as withdrawn. This resolution was pronounced on March 12, 2021, marking a peaceful end to the dispute for the specified assessment year.
This case exemplifies the effectiveness of the Vivad Se Vishwas Scheme as a mechanism for resolving tax disputes outside the traditional court system, providing a quicker resolution pathway for both parties involved.
Settlement of Tax Dispute by Franchise India Brands Ltd. for AY 2016-17
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