In a notable tax dispute, Rishi Parti HUF, represented by M/s GRA & Associates, engaged in a legal confrontation against the ITO, Ward 55(1), New Delhi for the assessment year 2015-16. The case, recorded under ITA 18/DEL/2019, was heard by the Income Tax Appellate Tribunal, Delhi Bench ‘SMC-1’.
The proceedings were presided over by Judicial Member Shri Bhavnesh Saini and Accountant Member Shri B.R.R. Kumar. This case, originating from an appeal against the order of Ld. CIT(Appeals)-19 dated November 2, 2018, concluded on January 18, 2021, with the withdrawal of the appeal by the appellant.
The resolution came about as the appellant opted to settle the dispute under the Vivad Se Vishwas Scheme, 2020. The legal team, led by advocate Shri Vanshi Taneja, and the respondent, represented by Senior DR Shri Prakash Dubey, agreed to the withdrawal after the issuance of Form No. III, which favored the assessee.
The decision to utilize the Vivad Se Vishwas Scheme was a strategic move to mitigate prolonged legal battles and uncertainties associated with tax disputes. This resolution not only expedited the resolution of pending tax issues but also reduced the judicial backlog, reflecting an effective use of alternative dispute resolution mechanisms.
The case highlights the impact of government schemes designed to facilitate amicable solutions to tax-related disputes, enhancing the efficiency of tax administration and promoting a cooperative relationship between taxpayers and the authorities.
The proceedings and their resolution under ITA 18/DEL/2019 serve as a precedent for similar disputes, demonstrating the benefits of opting for schemes like Vivad Se Vishwas over traditional litigation. This approach is especially valuable in complex tax disputes where resolution can be achieved without the need for protracted litigation.
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