The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal filed by the assessee, with the liberty to revive the appeal by filing a miscellaneous application if the Vivad Se Vishwas Scheme, 2024, was unsuccessful.
Nikhil Commosales Pvt. Limited, appellant-assessee, appealed against the order dated 24-09-2024 passed by Commissioner of Income Tax(Appeals)[CIT(A)] for the Assessment Year (AY)2013-2014.
The assessee’s counsel,J.M. Thard, stated in a letter dated 6th January, 2025, that the assessee had submitted a Declaration under the Direct Tax Vivad Se Vishwas Scheme, 2024, on 28th December, 2024. He requested an adjournment of the appeal hearing.
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Read More: ITAT Dismisses Appeal after Assessee Opts for Settlement under Vivad Se Vishwas Scheme 2024
The Vivad Se Vishwas Scheme, 2024 is a government initiative aimed at resolving pending tax disputes through a simplified and one-time settlement process. Under this scheme, taxpayers can settle their tax disputes by paying only the disputed amount of tax, while interest and penalties are reduced or waived off. This initiative seeks to promote tax compliance and reduce litigation by encouraging taxpayers to clear their dues and avoid prolonged legal proceedings.
Read More: Failure to Verify Applicability of ‘Vivad Se Vishwas Scheme’: ITAT Remits Matter to CIT(A)
In response, the Revenue counsel suggested that the matter be dismissed and the order of the CIT(A) be upheld.
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Read More:ITAT Dismisses Taxpayer’s Appeal as Withdrawn After Opting for Vivad Se Vishwas Scheme, 2024
A single member bench comprising Duvvuru RL Reddy(Vice President) considered the submissions and reviewed the available material. Based on the facts and circumstances, the ITAT dismissed the appeal but allowed the assessee to revive it by filing a miscellaneous application if they were not successful in the Vivad Se Vishwas Scheme, 2024.
In short,the appeal filed by the assessee was dismissed.
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