This document provides a comprehensive analysis of the ITAT Delhi Bench decision on the appeal filed by BSS Buildcon Pvt. Ltd. against the order of the Commissioner of Income Tax (Appeals)-13, New Delhi, dated 17.08.2018, under Section 271(1)(c) of the Income Tax Act, 1961, for the Assessment Year 2013-14.
The case centers around the appeal by BSS Buildcon Pvt. Ltd. concerning penalties under Section 271(1)(c) for the assessment year 2013-14. The company chose to withdraw the appeal following their application to the Vivad Se Vishwas Scheme, indicating a move towards settling disputes out of the tribunal.
During the hearing on February 3, 2021, the assessee presented a letter indicating their decision to withdraw the appeal in light of their ongoing process to settle tax disputes under the Vivad Se Vishwas Scheme for the related quantum appeal ITA No. 6409 (Del) of 2018. The ITAT accepted the withdrawal, leading to the dismissal of the appeal.
This case highlights the practical aspects of the Vivad Se Vishwas Scheme as a mechanism for resolving disputes and reducing litigation. By opting for the scheme, BSS Buildcon sought to mitigate prolonged legal proceedings and potential financial implications associated with tax disputes.
The dismissal of the appeal by BSS Buildcon Pvt. Ltd. underlines the effectiveness of alternative dispute resolution mechanisms in the realm of tax litigation, providing a pathway for companies to achieve closure on longstanding tax issues.
BSS Buildcon Pvt. Ltd. vs. ITO, Ward-5(2), New Delhi for AY 2013-14
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