The case ITA No. 5306/Del/2019 involves the appellant Indian Handicrafts, based in New Delhi, contesting an order passed by the respondent ACIT, Circle-28(1), New Delhi, for the assessment year 2015-16. The appeal was filed on June 10, 2019, against the order of the CIT(A)-10, New Delhi.
Indian Handicrafts filed the appeal to contest tax arrears and discrepancies in the assessment order for the year 2015-16. However, during the pendency of the appeal, the Government of India introduced the Vivad Se Vishwas Scheme, 2020, which aimed to resolve pending tax disputes by offering taxpayers a chance to settle their arrears with reduced penalties and interest.
The appeal was heard by the Income Tax Appellate Tribunal (ITAT) Delhi ‘C’ Bench, New Delhi, with Vice President Shri G.S. Pannu and Judicial Member Shri K. Narasimha Chary presiding over the case. The hearing took place on February 10, 2021, and the order was pronounced on the same day.
The appellant, represented by Sh. R.K. Kapoor, CA, argued that they had decided to opt for the Vivad Se Vishwas Scheme to settle the tax arrears for the assessment year 2015-16. A certificate under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020, was also submitted as part of the request for withdrawal.
The respondent, represented by Sh. M. Baranwal, Sr. DR, had no objections to the appellant’s request for withdrawal of the appeal under the Vivad Se Vishwas Scheme.
The ITAT acknowledged the request for withdrawal made by Indian Handicrafts and accepted the certificate submitted under the Vivad Se Vishwas Scheme. The tribunal allowed the withdrawal of the appeal in light of the scheme, which aims to reduce litigation and settle disputes amicably.
In conclusion, the appeal filed by Indian Handicrafts was dismissed as withdrawn, following their decision to opt for the Vivad Se Vishwas Scheme, 2020, to settle the tax arrears for the assessment year 2015-16.
Order pronounced in the presence of both parties during the virtual hearing on February 10, 2021.
Indian Handicrafts Opts for Vivad Se Vishwas Scheme: Appeal Withdrawal for AY 2015-16
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