This case summary examines the resolution of a tax dispute involving Akash Gupta for the Assessment Year 2014-15, highlighting the effective use of the Vivad Se Vishwas Scheme.
Akash Gupta, a resident of Hisar, Haryana, faced a tax dispute for the Assessment Year 2014-15. The case was reviewed by the Income Tax Appellate Tribunal in Delhi under the bench of Shri Bhavnesh Saini and Shri O.P. Kant.
The appeal was initially brought forth by the Revenue against the order of the Commissioner of Income Tax (Appeals), Hisar. However, Akash Gupta decided to settle the dispute through the Vivad Se Vishwas Scheme, 2020, an initiative by the Indian government aimed at reducing litigation in direct tax disputes.
On the date of hearing via video conferencing, no representative for Akash Gupta was present, but a letter had been submitted indicating his intention to settle under the scheme. The tribunal noted a caveat that if the dispute resolution under the scheme did not conclude satisfactorily, Gupta could request the reinstatement of the appeal.
The tribunal accepted Gupta’s withdrawal from the appeal under the conditions stipulated. This case underscores the utility of the Vivad Se Vishwas Scheme as a strategic tool for resolving tax disputes without prolonged litigation. It reflects the shift towards more amicable resolutions between taxpayers and the authorities.
Resolution of Akash Gupta’s Tax Dispute Under Vivad Se Vishwas Scheme for AY 2014-15
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