The case ITA 5211/DEL/2019 involves Vishal Colour Roofs Pvt Ltd from Gautam Budh Nagar, contending against the ITO Ward-26(4), New Delhi, for the assessment year 2009-10.
The company faced discrepancies in tax assessments that led to the filing of an appeal. The dispute centered around the adjustments made by the Income Tax Officer, which were contested by Vishal Colour Roofs.
The appeal was heard via video conferencing by a bench consisting of Vice President Shri G.S. Pannu and Judicial Member Shri Amit Shukla. During the proceedings, the appellant, represented by Ms. Divyanshi Gupta, CA, expressed the desire to withdraw the appeal in favor of settling under the Vivad Se Vishwas Scheme, 2020.
The request for withdrawal was agreed upon by both parties, leading to a resolution of the dispute under the Vivad Se Vishwas Scheme. This scheme, introduced by the government, aims to reduce litigation and ease the resolution process for tax disputes. The final settlement was formally acknowledged and the appeal was dismissed as withdrawn on November 16, 2020.
This case illustrates the practical application of the Vivad Se Vishwas Scheme as an effective alternative to prolonged litigation. It provides a valuable precedent for similar tax disputes, highlighting how such resolutions can benefit both the taxpayer and the administration by providing a quicker, more efficient resolution process.
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