This document provides a detailed examination of the tax appeal ITA No. 4979/DEL/2019 for the assessment year 2012-13 involving Amarjeet Singh Chawla and the Deputy Commissioner of Income Tax, Central Circle-II, Faridabad. The appeal was ultimately resolved by opting for the Vivad Se Vishwas Scheme, aimed at reducing litigation in direct tax disputes.
The appeal, originally challenging decisions by the CIT(A)-3, Gurgaon, was withdrawn by the assessee after opting to settle under the Vivad Se Vishwas Scheme. This decision was facilitated by the issuance of Form No.5 by the Department, confirming the settlement.
The withdrawal of the appeal marks a significant resolution of tax disputes through governmental schemes designed to decrease litigation and provide fiscal certainty to taxpayers. This analysis delves into the legal nuances, procedural aspects, and the broader impacts on tax administration in India.
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