Appeals Dismissed, Assessees Can Use Vivad se Vishwas Scheme The appeals were dismissed as withdrawn, allowing the assessees to utilize the 'Vivad se Vishwas Scheme, 2020' for settling disputes. They were granted ...
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Appeals Dismissed, Assessees Can Use Vivad se Vishwas Scheme
The appeals were dismissed as withdrawn, allowing the assessees to utilize the 'Vivad se Vishwas Scheme, 2020' for settling disputes. They were granted the liberty to restore the appeals if the Designated Authority rejected their applications under the Act.
Issues: - Condonation of delay in filing appeals - Utilization of Direct Taxes 'Vivad se Vishwas Scheme, 2020' for settling disputes
Condonation of Delay in Filing Appeals: The appeals filed by the assessees were found to be barred by limitation, requiring a petition for condonation of delay. The reasons provided for the delay were deemed reasonable, meeting the criteria under the Act for condonation. The delay was condoned, and the appeals were admitted for adjudication.
Utilization of Direct Taxes 'Vivad se Vishwas Scheme, 2020' for Settling Disputes: The Government of India introduced the 'Vivad se Vishwas Scheme, 2020' to resolve pending direct tax disputes. Assessees were allowed to settle disputes by filing necessary declarations and undertaking as per the scheme's provisions. The scheme specified the payable amounts for taxes, interest, and penalties. Assessees who filed declarations and paid specified taxes under the scheme could withdraw appeals pending before appellate authorities, receiving immunity from penalties and prosecution.
Some assessees had already filed declarations and received necessary forms, while others were in the process or willing to settle disputes under the scheme. In alignment with a similar decision by the High Court of Madras, the appeals were dismissed as withdrawn, granting liberty to the assessees to restore them if the Designated Authority rejected their applications under section 4 of the Act.
In conclusion, both appeals were dismissed as withdrawn, considering the assessees' intentions to utilize the 'Vivad se Vishwas Scheme, 2020' for settling disputes. The assessees were given the opportunity to restore the appeals if needed, based on the Designated Authority's decision regarding their applications under the Act.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
