This document reviews the tax dispute resolution for Ajit Kumar Gupta for the assessment year 2014-15, which was settled under the Vivad Se Vishwas Act, 2020.
Ajit Kumar Gupta faced tax disputes for the assessment years 2014-15 and 2015-16, which he opted to resolve through the Vivad Se Vishwas scheme, aimed at reducing litigation in direct tax matters. This move came after the initial appeal to the CIT(A)-24 in New Delhi, with the subsequent decision to settle under the new scheme.
The hearing for this case was conducted via video conferencing on October 9, 2020, with both parties present. Prior to the hearing, Gupta, through his counsel, submitted a request to withdraw the appeals for both assessment years, citing his election to settle under the Direct Tax Vivad Se Vishwas Act, 2020. This request was accompanied by the necessary certification under Section 5(1) of the Act.
The Tribunal accepted Gupta’s request to withdraw the appeals, leading to the dismissal of the case. This decision illustrates the effectiveness of the Vivad Se Vishwas Act as a facilitative tool for taxpayers seeking to resolve disputes without prolonged litigation, thereby reducing the burden on the judicial system.
This case underscores the potential benefits of alternative dispute resolution mechanisms in tax disputes, highlighting how legislative tools like the Vivad Se Vishwas Act can lead to efficient and amicable settlements.
Comprehensive Review of Ajit Kumar Gupta’s Tax Resolution for AY 2014-15
Manage the increasing number of hearings effortlessly by leveraging the legal AI revolution We are India's Leading revolutionary AI-powered legal platform where you can get enough insights into top cases and judgements.
Research Platform