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2022 (6) TMI 1169 - AT - Income TaxDeclaration under the Direct Tax Vivad Se Vishwas Act 2020 - HELD THAT - We find accepting assessee s declaration under the Direct Tax Vivad Se Vishwas Act 2020 the designated has issued Form 5. Thus with the issuance of Form 5 for all practical purposes the dispute arising in the appeal stands resolved. That being the case we permit the assessee to withdraw the present appeal. Accordingly the appeal is dismissed as withdrawn.
Issues:
Appeal against order of Commissioner of Income-Tax (Appeals) for assessment year 2016-17. Withdrawal of appeal by assessee under Direct Tax Vivad Se Vishwas Act, 2020. Analysis: The judgment pertains to an appeal filed by the assessee against the order dated 30.07.2019 of the Commissioner of Income-Tax (Appeals) for the assessment year 2016-17. The counsel for the assessee sought withdrawal of the appeal as the assessee had opted to settle the dispute under the Direct Tax Vivad Se Vishwas Act, 2020. A letter dated 15.06.2022, along with a copy of Form 5 issued by the designated authority on 02.03.2021, was submitted before the Bench to support the withdrawal request. Upon reviewing the submissions, it was noted that the designated authority had issued Form 5 in acceptance of the assessee's declaration under the Direct Tax Vivad Se Vishwas Act, 2020. Consequently, the dispute arising from the appeal was deemed resolved with the issuance of Form 5. As a result, the Tribunal permitted the assessee to withdraw the appeal, and accordingly, the appeal was dismissed as withdrawn on the grounds of settlement under the said Act. In conclusion, the judgment highlights the procedural aspect of settling tax disputes under the Direct Tax Vivad Se Vishwas Act, 2020. It underscores the significance of compliance with the Act's provisions and the authority's acceptance of the assessee's declaration leading to the resolution of the appeal. The dismissal of the appeal upon withdrawal signifies the effective resolution of the tax dispute through the statutory framework provided by the Act.
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