Court grants appeal restoration under Direct Tax Vivad Se Vishwas Act, 2020, sets conditions.

The court granted the petitioner's application for restoration of appeal under the Direct Tax Vivad Se Vishwas Act, 2020. The court directed expedited hearing and decision on all pending applications, including condonation of delay and restoration of appeal. The petitioner was instructed to deposit a specified amount to demonstrate bonafides, with any excess to be refunded. The court also deferred the auction sale for a specified period. The rule was made absolute, with no costs awarded, and the parties were bound by the court's terms for resolving the appeal restoration issue under the Act.

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Issues:
1) Application for restoration of appeal under Direct Tax Vivad Se Vishwas Act, 2020.

Analysis:
The petitioner's grievance in this case revolves around the pendency of its application for restoration of the appeal, which is hindering its ability to benefit from the provisions of the Direct Tax Vivad Se Vishwas Act, 2020. The Act offers a scheme for waiving a certain amount of tax for eligible assessees. The petitioner's counsel highlights that the last date for submitting applications under this Act is 31/3/2020. The petitioner intends to withdraw the appeal and avail of the scheme if the appeal is restored in time.

The respondents' counsel suggests that an early hearing could be granted to the petitioner if they deposit an amount of twenty-five lakhs rupees to demonstrate their bonafides. In response to these arguments, the court issues specific directions to address the situation. The court orders that all the petitioner's applications, including those for condonation of delay and restoration of appeal, must be heard expeditiously and decided by a certain date. The petitioner is required to deposit the specified amount with a designated respondent by a particular deadline. Any excess amount determined beyond the petitioner's liability under the scheme shall be refunded. Additionally, the court orders a deferral of the auction sale for a specified period from the date of the order.

In conclusion, the court makes the rule absolute based on the directions issued. No costs are awarded in this matter, and the parties are bound by the terms set forth by the court for the resolution of the issues raised regarding the restoration of appeal under the Direct Tax Vivad Se Vishwas Act, 2020.

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