The case of ITA No. 3689/DEL/2019 presents an appeal by the Deputy Commissioner of Income Tax against Gangetic Developers P. Ltd. for the assessment year 2015-16, ultimately leading to an application of the Vivad Se Vishwas Scheme, 2020.
The DCIT, Circle-10(1), New Delhi filed an appeal challenging the decisions made by the lower tax authorities regarding Gangetic Developers P. Ltd.’s filings for the assessment year 2015-16. This was one of two linked cases that addressed issues across two consecutive assessment years.
The core of the dispute involved the tax calculations and filings by Gangetic Developers P. Ltd., which led to an appeal from the revenue authorities. However, the focus shifted when the assessee opted for the Vivad Se Vishwas Scheme, 2020, effectively aiming to settle outstanding tax disputes.
The assessee’s decision to settle under the Vivad Se Vishwas Scheme led to the withdrawal of the appeal. Documentation provided under Form No. 3 indicated that no amount was payable by the assessee, thus leading to a resolution of the dispute without further judicial proceedings.
The tribunal noted the submission of Form No. 3 and, in the absence of any objection from the Senior Departmental Representative, agreed to dismiss the appeals as withdrawn. This decision emphasized the effectiveness of the Vivad Se Vishwas Scheme as a tool for resolving tax disputes outside the conventional litigation process.
This case highlights the practical application of alternative dispute resolution mechanisms in tax disputes, showcasing how legislative tools like the Vivad Se Vishwas Scheme can lead to expedited and less adversarial resolutions. The withdrawal of the appeal underscores the mutual benefits of such schemes to both the taxpayer and the revenue authorities.
Order pronounced in the open court on the 28th of May, 2021, marking the resolution of the dispute under the Vivad Se Vishwas Scheme.
ITA 3689/DEL/2019: DCIT vs Gangetic Developers P. Ltd. for Assessment Year 2015-16
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