This case study explores the ITAT New Delhi’s decision regarding Friends Auto (India) Ltd. vs. DCIT, Central Circle-II, Faridabad for the assessment year 2012-13. The case was resolved through the Direct Tax Vivad se Vishwas Scheme, highlighting the scheme’s role in facilitating quicker tax dispute resolutions.
The appellant, Friends Auto (India) Ltd., faced a pending tax dispute for the assessment year 2012-13. Opting for resolution under the Vivad se Vishwas Scheme, the appellant submitted the necessary forms to finalize the dispute out of court.
The tribunal acknowledged the appellant’s move to resolve the dispute through the Vivad se Vishwas scheme, noting the government’s initiative to decrease litigation in tax-related matters. With the successful submission under the scheme, the tribunal granted dismissal of the case, provided the final settlement proceeds as per the stipulations of the scheme.
The resolution of the case under the Vivad se Vishwas Scheme demonstrates the effectiveness of alternative dispute resolution mechanisms in the field of tax law, offering a streamlined approach to resolving disputes. This case is a precedent for the efficacy of the scheme in reducing backlog and providing taxpayers with a viable option to settle disputes efficiently.
Friends Auto (India) Ltd. vs. DCIT: Settlement Through Vivad Se Vishwas for AY 2012-13
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