Crona Infradeveloper’s Settlement of Dispute Through Vivad Se Vishwas for AY 2011-12

Introduction

Crona Infradeveloper Pvt. Ltd., a real estate development firm based in New Delhi, faced a prolonged tax dispute for the assessment year 2011-12, leading to an appeal before the Income Tax Appellate Tribunal, Delhi Bench ‘SMC’.

Background of the Dispute

The appeal stemmed from discrepancies in the tax assessment determined by the Commissioner of Income Tax (Appeals)-2, New Delhi, for the said assessment year, originally judged on 31st May 2019.

Settlement through Vivad Se Vishwas

In pursuit of a resolution, Crona Infradeveloper opted to utilize the Vivad Se Vishwas Scheme, 2020, a government initiative aimed at reducing litigation in direct tax matters. The company submitted the necessary declarations and received the requisite approvals from the tax department, signaling a move towards an amicable resolution.

Withdrawal of the Appeal

On 5th October 2021, during a session conducted via video conferencing, the company formally requested the withdrawal of their appeal. The tribunal, led by Shri Anil Chaturvedi, allowed this withdrawal, noting that the dispute was effectively resolved under the scheme. However, a caveat was added, allowing Crona Infradeveloper the option to reinstate the appeal should the settlement under the scheme not finalize as anticipated.

Crona Infradeveloper’s Settlement of Dispute Through Vivad Se Vishwas for AY 2011-12