9911796707
TMI Blog2024 (4) TMI 530X X X X Extracts X X X X X X X X Extracts X X X X ..... er Form 1 and the undertaking made under Form 2 of The Direct Tax Vivad Se Vishwas Rules, 2020 [in short, "Rules"] along with the communication dated 17.02.2021 [Annexure P-25] furnishing reasons for the rejection. 3. Via the impugned communication dated 17.02.2021, respondent no. 1/revenue has rejected the Forms filed by the petitioner/assessee on the ground that the petitioner/assessee sought to settle only one of the matters pending adjudication. For convenience, the rejection communication is extracted hereafter: "Madam/Sir, I am directed to provide reason for rejection of VsV application [sic...application], as per CBDT circular No-7/2020 dated 04.03.2020 in FAQ No-7, 11,14 and 36 you are not eligible to avail the benefit of VsV ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 159,69,93,977/-. Interest received from ECBS was retained, which amounted to Rs. 197,68,25,304/-. 7. Aggrieved by the final assessment order, the petitioner/assessee lodged an appeal before the Income Tax Appellate Tribunal [in short, "the Tribunal"]. Via order dated 25.01.2017, the Tribunal partly allowed the appeal of the petitioner/assessee. 8. Against the order dated 25.01.2017, cross-appeals were filed before this Court. The petitioner's/assessee's appeal was numbered ITA 498/2017 while the respondents'/revenues' appeal was numbered ITA 1066/2017. In addition to the substantive appeal, i.e., ITA 498/2017, the petitioner/assessee filed cross-objections in the respondents/revenue's appeal before the Delhi High Court, i.e., ITA 106 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. For convenience, the relevant parts of the judgment are extracted hereafter: "34. This Court is further of the view that under the DTVSV Act, 2020 each appeal, writ petition or SLP is treated as a separate dispute which is evident from Section 2(1)(j) read with Section 2(1)(a) of the Act. The said Sections provide that disputed tax for each appeal, writ petition or SLP is to be computed and, the disputed tax payable by the declarant is the amount as if such appeal, writ petition or SLP were to be decided against the assessee. Section 2(1)(a) of the Act use the words "an appeal" and Section 2(1)(j) of the Act uses the word "any appeal" both of which indicate that the unit for settlement of dispute under the provisions of DTVSV Act is an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the unit of settlement under the VSV Act is not an 'assessment year' but "any appeal, writ petition or an SLP". In this regard, the coordinate bench has referred, inter alia, to the provisions of Section 2(1)(j) read with Section 2(1)(a) of the VSV Act. 16. Mr Prashant Meharchandani, learned senior standing counsel, who appears on behalf of the respondents/revenue, cannot but accept that the issue raised in the present petition is covered by the decision of the coordinate Bench. 17. Accordingly, the writ petition is allowed. The order rejecting the subject Forms and the communication dated 17.02.2021 are set aside. 18. The concerned authority under VSV Act will, now, take the next steps in law for processing the subject Forms filed by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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