This article examines the resolution of a tax dispute involving Siti Vision Marketing Pvt Ltd for the assessment year 2012-13, where the company opted for settlement under the Vivad Se Vishwas Scheme.
The dispute pertains to tax arrears for the assessment year 2012-13 which Siti Vision Marketing Pvt Ltd sought to resolve through the government’s initiative to reduce litigation in tax matters.
The case was heard by the Income Tax Appellate Tribunal, Delhi Bench ‘A’. The appeal was directed against the order of CIT(A)-14, New Delhi. During the proceedings, the appellant, represented by Sh. Suresh H. Gupta, CA, expressed the company’s intention to settle the dispute under the Vivad Se Vishwas Scheme.
On October 27, 2021, the appellant officially withdrew the appeal. This decision was supported by the submission of a certificate under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020, confirming their participation in the scheme.
The tribunal accepted the withdrawal and dismissed the appeal as withdrawn. This allowed Siti Vision Marketing Pvt Ltd to settle their pending tax issues amicably, showcasing the effectiveness of the Vivad Se Vishwas Scheme in reducing prolonged tax litigations and facilitating ease of doing business.
Settlement of Tax Dispute for Siti Vision Marketing Pvt Ltd under Vivad Se Vishwas for AY 2012-13
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