In-depth Review of ITA No. 2112/DEL/2019: Radhey Shyam Aggarwal (HUF) vs. ITO Ward 40(5)
Date of Hearing: April 7, 2022
Date of Pronouncement: April 7, 2022
Case Background
This appeal concerns Radhey Shyam Aggarwal (HUF)’s challenge against the CIT(A)’s decision for the assessment year 2014-15. The appeal was later withdrawn under the Vivad Se Vishwas Scheme, aimed at reducing litigation in direct tax matters by offering a mechanism for amicable dispute resolution.
Legal Proceedings
The hearing took place on April 7, 2022. The assessee opted to resolve the dispute under the Direct Tax Vivad Se Vishwas Act, 2020, submitting the necessary Declaration Form No. 1 & 2 and received Form No. 3, confirming the settlement process.
Withdrawal of the Appeal
Following the submission of a formal request for withdrawal, the tribunal accepted the withdrawal, acknowledging the settlement of the dispute through the scheme. This highlights the scheme’s effectiveness in facilitating swift and equitable tax dispute resolution.
Implications
This case illustrates the practical application of the Vivad Se Vishwas Act and its impact on reducing the backlog of cases. It serves as an example for other taxpayers contemplating the benefits of this scheme to resolve their disputes without prolonged litigation.
Conclusion
The dismissal of ITA No. 2112/DEL/2019 under the Vivad Se Vishwas Scheme underscores the importance of alternative dispute resolution mechanisms in the tax system, promoting a quicker, cost-effective, and less adversarial resolution process.