2021 (6) TMI 440

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.....1924 to 1930/Mds/2013 for the assessment years 2001-02 to 2007- 08. 2. The learned A.R for the assessee has narrated facts and mistakes stated to be apparent on record from the order of the Tribunal dated 10.05.2016 and submitted that the assessee has opted for 'Vivad se Vishwas Scheme, 2020' to settle the pending dispute regarding direct taxes and has already filed Form No.1 & 2 to the designated authority. The AR further submitted that the Designated Authority has accepted application filed by the assessee and also issued Form 3 for all assessment years. Therefore, learned AR submitted that the order dated 10.05.2016 passed by this Tribunal may be recalled and the appeals may be dismissed to enable the assessee to utilize Vivad se Vis....

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....axes at various appellate forums including the First Appellate Authority, Tribunal, High Court and Supreme Court. In this regard, the Scheme has been notified on 17th March, 2020 and became Direct Taxes 'Vivad se Vishwas Act, 2020'. As per the said Scheme, assessees are allowed to settle direct tax dispute in a manner and procedure prescribed therein by filing necessary declaration and undertaking. The Scheme has also specified the amount of taxes, interest, and penalty, if any payable under the Act. If an assessee filed a declaration and pay specified taxes as per the scheme and withdraw the appeal pending before the appellate authorities, the Designated Authority shall pass an order in Form 5 confirming payment made under the scheme and g....

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....llant/assessee and Mr.T.R.Senthil Kumar, learned Senior Standing Counsel and Ms. K.G.Usha Rani, learned counsel for the respondent/Revenue. 3. The learned counsel for the appellant / assessee, on instructions, submitted that the appellant / assessee intends to avail the benefit of Vivad Se Vishwas Scheme (' VVS Scheme' for brevity) and in this regard, the assessee is taking steps to file the application / declaration in Form No. 1. 4. It may not be necessary for this Court to decide the Substantial Questions of Law framed for consideration on account of certain subsequent developments. The Government of India enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3 of 2020) to provide for resolution of disputed tax and....

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....als with cases, where the issue is pending before the Income Tax Appellate Tribunal. The filing of the declaration is as per Section 4 of the Act and the particulars to be furnished are also mentioned in the Sub Sections of Section 4. Section 5 of the Act deals with the time and manner of the payment and Section 6 deals with Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases. Section 9 of the Act deals with cases, where the Act 3 of 2020 will not be applicable. 7. As observed, the assessee is given liberty to restore this appeal in the event the ultimate decision to be taken on the declaration to be filed by the assessee under Section 4 of the said Act is not in favour of the as....