This article explores the Income Tax Appellate Tribunal’s decision on ITA No. 311/DEL/2019, involving Viksit Trading and Holding Private Limited of New Delhi and the Income Tax Officer (ITO), Ward-26(3), New Delhi. The appeal pertains to the assessment year 2014-15 and discusses the withdrawal of the appeal under the Vivad Se Vishwas Scheme, 2020.
The appellant, Viksit Trading and Holding Private Limited, filed an appeal for the assessment year 2014-15, contesting the order of the learned Commissioner of Income Tax (Appeals) [CIT(A)], New Delhi, dated November 5, 2018. The case was filed on January 17, 2019, and the final tribunal order was pronounced on December 22, 2020.
The primary issue in this case was the appellant’s request to withdraw the appeal under the Direct Tax Vivad Se Vishwas Act, 2020. The Vivad Se Vishwas Scheme was introduced to resolve pending tax disputes and reduce litigation.
The appellant, represented by its letter dated December 17, 2020, submitted through email, requested the withdrawal of the appeal. The letter stated that the appellant had opted to settle the tax dispute for the assessment year under consideration under the Vivad Se Vishwas Scheme, 2020. A certificate under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020, was also filed to support this request.
The respondent, represented by Sr. DR Shri M. Baranwal, raised no objection to the appellant’s request for withdrawal of the appeal.
The Tribunal, presided over by Vice President Shri G.S. Pannu and Judicial Member Shri Sudhanshu Srivastava, reviewed the request for withdrawal. Given the circumstances and the lack of objection from the respondent, the Tribunal accepted the appellant’s request to withdraw the appeal.
The Tribunal concluded that the appeal filed by Viksit Trading and Holding Private Limited was dismissed as withdrawn. The decision was announced on December 22, 2020, following a virtual hearing.
The case of ITA 311/DEL/2019 highlights the effectiveness of the Vivad Se Vishwas Scheme, 2020, in resolving tax disputes and reducing litigation. By opting for this scheme, Viksit Trading and Holding Private Limited was able to settle the tax arrears for the assessment year 2014-15 efficiently.
This decision underscores the benefits of the Vivad Se Vishwas Scheme for taxpayers seeking to resolve their tax disputes without prolonged litigation. It also illustrates the Tribunal’s supportive stance towards such initiatives aimed at simplifying tax compliance and dispute resolution processes.
In summary, the Tribunal’s order in favor of the withdrawal request under the Vivad Se Vishwas Scheme demonstrates the scheme’s role in facilitating tax dispute resolution, providing a valuable reference for future cases involving similar issues.
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