This case summary delves into the Income Tax Appellate Tribunal decision regarding the appeal filed by Great Lakes E-Learning Services Pvt Ltd for the assessment year 2015-16 against the order of the learned CIT(A)-4, New Delhi. The appeal was directed against the tax adjustments made for the year concerned.
The case, tagged under ITA No. 5122/DEL/2019, represents a crucial scenario where the appellant sought to resolve the dispute using the government’s Vivad Se Vishwas Scheme, 2020, which aims at reducing litigation in the taxation sphere. This decision was taken following the company’s choice to opt for this scheme to settle tax arrears linked to the year in question.
During the proceedings held via video conferencing on April 15, 2021, the appellant’s counsel submitted a request for withdrawal of the appeal, supported by a certificate under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020. The Tribunal accepted the withdrawal, marking a significant move towards dispute resolution.
The resolution of this case under the Vivad Se Vishwas scheme highlights the potential benefits of the scheme in fostering a more compliant and less adversarial tax environment. It underscores the shift towards resolving disputes without prolonged litigation, providing a quicker resolution mechanism for both the taxpayer and the administration.
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