This article explores the tribunal case ITA No.5090/DEL/2019, involving Jasmina Trust’s decision to utilize the Vivad Se Vishwas scheme for resolving tax disputes related to the assessment year 2015-16.
Jasmina Trust, a New Delhi-based entity, faced tax disputes for the assessment year 2015-16. Initially challenging the tax assessments, the trust decided to settle the disputes under the Vivad Se Vishwas Act, 2020, aimed at reducing litigation in direct tax disputes across India.
The case was set for a virtual hearing, but prior to this, Jasmina Trust submitted a request for withdrawal of the appeal, citing their decision to settle under the Vivad Se Vishwas scheme. The tribunal acknowledged this request and dismissed the appeal as withdrawn, with a caveat that should the dispute not be resolved under the scheme, the trust could reapproach the tribunal.
The resolution of the case under the Vivad Se Vishwas scheme illustrates the government’s effort to minimize litigation and provide taxpayers an amicable opportunity to settle disputes. This case serves as a significant example of the practical application of such legislative schemes to resolve outstanding tax issues effectively.
Resolution of Tax Dispute Under Vivad Se Vishwas: Jasmina Trust, AY 2015-16
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