This detailed review covers the case of Nitin Sharma (HUF) versus ACIT, Circle-35(1), New Delhi for the assessment year 2010-11, resolved under the Vivad Se Vishwas Scheme, 2020.
The case, filed on May 23, 2019, was originally directed against the order of the CIT(A)-12, New Delhi. However, it concluded uniquely with the appellant opting for a resolution through the recently implemented Vivad Se Vishwas Scheme.
During the virtual hearing dated March 30, 2021, the appellant, represented initially by counsel, later chose to withdraw the appeal. This decision was supported by the filing of a certificate under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020, indicating the settlement of disputed tax arrears.
The case highlights the effectiveness of the Vivad Se Vishwas Scheme as a strategic tool for resolving tax disputes, providing a detailed precedent for other taxpayers contemplating similar settlements. The withdrawal of the appeal not only concluded the litigation amicably but also underscored the potential benefits of alternative dispute resolution mechanisms in tax matters.
Resolution of ITA No. 4703/DEL/2019 Under Vivad Se Vishwas Scheme: Nitin Sharma (HUF) vs. ACIT
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