This article explores the tax dispute involving Jai Narain Aggarwal (HUF) for the assessment year 2015-16, which was resolved through the Vivad Se Vishwas Scheme.
The appeal was initially filed against the order of the CIT(A)-12, New Delhi, but was later withdrawn as the appellant opted for the Vivad Se Vishwas Scheme to resolve the dispute.
The tribunal noted the appellant’s decision to withdraw the appeal based on the resolution option provided by the Vivad Se Vishwas Scheme. This mechanism is designed to reduce litigation in tax disputes and encourage a more cooperative approach to tax compliance.
The case highlights the effectiveness of alternative dispute resolution methods in tax matters. It illustrates how such schemes can lead to expedient dispute resolution and reduce the burden on judicial systems. This resolution also reflects the shifting landscape of tax litigation in India, with a growing emphasis on resolving disputes through negotiations rather than prolonged litigation.
Jai Narain Aggarwal (HUF) vs. ITO: Settlement Under Vivad Se Vishwas
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