This case involves Asineeman Fashions Pvt Ltd, which filed an appeal against an order from CIT(A)-I, New Delhi, concerning the assessment year 2010-11. The company chose to resolve its tax arrears through the Vivad Se Vishwas Scheme, 2020, which led to the withdrawal of the appeal.
The appeal, originally filed due to disagreements over tax assessments, was directed against procedural outcomes deemed unfavorable by Asineeman Fashions. The decision to settle reflects a shift towards utilizing alternative dispute resolution mechanisms provided by the government to streamline tax litigation.
The company successfully obtained Form No.3, indicating official acceptance into the Vivad Se Vishwas Scheme. This allowed them to formally request the withdrawal of their appeal, which was unopposed by the Revenue representative at the hearing.
Given the settlement under the Vivad Se Vishwas Scheme and the absence of any objection from the Revenue, the tribunal allowed the withdrawal of the appeal. This outcome underscores the effectiveness of the scheme in reducing litigation and providing taxpayers with a more expedient resolution to disputes.
The case of ITA 5214/DEL/2019 serves as a precedent for other corporate entities considering the Vivad Se Vishwas Scheme as a viable alternative to protracted legal proceedings, emphasizing the benefits of compliance and cooperation with fiscal policies aimed at reducing judicial backlog and fostering a cooperative tax environment.
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