This case analysis discusses ITA No. 1069/Del/2020, involving SBBJ Employees Urban Co-operative Thrift & Credit Society Ltd.’s decision to withdraw their appeal and settle the tax dispute for the assessment year 2016-17 under the Vivad Se Vishwas Scheme.
The case originally contested assessments by the Income Tax Officer, Ward-52(5), New Delhi, which led to prolonged litigation. However, in a turn towards resolution, the society opted to settle the dispute using the governmental scheme designed to reduce litigation in direct taxes.
During the tribunal’s review, it was noted that no representative appeared on behalf of the appellant during the virtual hearing. Instead, a letter was submitted requesting the withdrawal of the appeal, citing the decision to settle under the Vivad Se Vishwas Scheme, thereby demonstrating the utility and effectiveness of this dispute resolution mechanism.
The Tribunal, after noting the absence of objection from the Senior DR and the submission of the settlement certificate under the scheme, accepted the withdrawal of the appeal. This conclusion not only underscores the scheme’s role in fostering a cooperative resolution environment but also marks the case as resolved without further judicial engagement.
This resolution highlights the importance of alternative dispute resolution mechanisms in tax matters, offering a pathway for entities to resolve disputes efficiently and avoid the costs associated with traditional litigation. It serves as a precedent for similar cases, promoting a quicker resolution to tax disputes.
ITA 1069/DEL/2020: Withdrawal Under Vivad Se Vishwas for Tax Dispute Resolution
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