This case involves Mahesh Singhania, who contested the order from the Commissioner of Income Tax (Appeals), Karnal, for the assessment year 2012-13. The dispute, however, was amicably resolved under the Direct Tax Vivad Se Vishwas Act, 2020.
The appellant, Mahesh Singhania, challenged the assessment for the year 2012-13 as determined by the CIT (Appeals), Karnal. Subsequent to the appeal, the assessee opted to settle the dispute through the Direct Tax Vivad Se Vishwas Act, 2020, resulting in the issuance of Form 5 by the designated authority.
During the scheduled hearing, the appellant did not appear but communicated the settlement through a letter, confirming that the dispute was resolved under the Vivad Se Vishwas scheme. The Departmental Representative did not object to the withdrawal request, leading to the dismissal of the appeal as withdrawn by the Tribunal.
This case highlights the effectiveness of alternative dispute resolution mechanisms under the Direct Tax Vivad Se Vishwas Act, designed to reduce litigation in direct tax disputes. It underscores the Act’s role in providing a straightforward pathway for settling tax disputes, facilitating a quicker resolution process.
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