The case of ITA No. 3693/DEL/2019 involves an appeal by Vashisatha Polyments Pvt Ltd against the Income Tax Officer, Ward-26(2), New Delhi, for the assessment year 2010-11. This document outlines the proceedings and resolution of the case, which pertains to tax disputes settled under the Vivad Se Vishwas Scheme.
Vashisatha Polyments Pvt Ltd, a company based in New Delhi, faced disputes regarding tax assessments for the year 2010-11. The case was brought before the Income Tax Appellate Tribunal, Delhi Bench, where the company sought to challenge the earlier decisions made by the tax authorities.
The appeal was heard through video conferencing due to contemporary circumstances, presided over by Shri G.S. Pannu, Vice President, and Shri Amit Shukla, Judicial Member of the tribunal. On the date of hearing, 16th November 2020, the counsel for the assessee submitted a request for the withdrawal of the appeal. This request was based on the company’s decision to settle the dispute under the Vivad Se Vishwas Scheme, a government initiative aimed at reducing litigation in direct taxes.
The tribunal accepted the withdrawal request, leading to the dismissal of the appeal as withdrawn. This resolution not only underscores the effectiveness of alternative dispute resolution mechanisms in tax matters but also highlights the government’s efforts to promote compliance and reduce litigation through schemes like Vivad Se Vishwas.
The order was pronounced in the open court, marking a conclusive end to the dispute for the assessment year 2010-11 between Vashisatha Polyments Pvt Ltd and the Income Tax Department.
ITA 3693/DEL/2019: Vashisatha Polyments Pvt Ltd vs ITO Ward-26(2) for Assessment Year 2010-11
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