This case involves Hemant Vasisht from Gurgaon contesting against the ITO Ward-2(1), Gurgaon, for the assessment year 2014-15. The appeal was filed in response to disagreements over tax assessments with the CIT(Appeals)-1, Gurgaon.
The appeals for the assessment years 2014-15 and 2015-16 were initially directed against orders dated April 24 and 23, 2019, respectively. Subsequently, Hemant Vasisht chose to resolve the disputes under the Vivad Se Vishwas Scheme, 2020, a government initiative aimed at reducing litigation and facilitating the resolution of pending tax disputes. The decision to withdraw was formalized with the submission of Form No. 5, confirming the settlement of the tax arrears.
The Income Tax Appellate Tribunal accepted the withdrawal of the appeals, as confirmed by the CIT-DR, marking a successful resolution under the Vivad Se Vishwas Scheme. This outcome not only resolves the immediate fiscal disputes but also illustrates the scheme’s effectiveness in reducing legal conflicts and promoting compliance.
This case serves as a significant example of how taxpayers can utilize government schemes to amicably settle disputes, avoiding prolonged litigation and achieving certainty in tax obligations. The dismissal of the appeals on August 29, 2022, underscores the mutual benefits of such dispute resolution mechanisms.
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