The appeal of Akash Goyal against the order of the CIT(A) for the assessment year 2014-15, showcases the resolution of tax disputes through the Vivad Se Vishwas Scheme, a legal mechanism aimed at reducing litigation in direct taxes.
Akash Goyal appealed against the assessment order by the ITO Ward-72(5), New Delhi, which led to a protracted legal dispute. The case originated from discrepancies identified in the tax assessment for the year 2014-15, prompting Goyal to seek judicial recourse.
In a significant development, Goyal opted to settle the dispute under the Vivad Se Vishwas Scheme, thus aiming for a resolution without further litigation. This decision was documented in a formal request for withdrawal from the proceedings, citing a settlement under the scheme.
The Tribunal, after receiving the submission from Goyal’s counsel and no objection from the Senior DR, agreed to the withdrawal of the appeal. This allowed for a resolution that was both efficient and satisfactory to both parties, marking the end of the legal dispute.
This case is illustrative of the wider implications of the Vivad Se Vishwas Scheme as an effective alternative to conventional litigation in tax disputes. The withdrawal and subsequent settlement under the scheme highlight its potential to provide expedient and equitable resolutions in tax-related conflicts.
Settlement of Akash Goyal vs. ITO Under the Vivad Se Vishwas Scheme for AY 2014-15
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