Assessee under the VSV Scheme has filed Form No. 1 & 2 and his appeal, therefore, may be dismissed if withdrawn

Last updated: 09 January 2021

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An assessee who has filed declarations under the Vivaad se Vishwas (VSV) Scheme to settle a tax dispute has had their appeal dismissed as withdrawn. This decision was made by the Income Tax Appellate Tribunal, subject to the successful issuance of Form No. 3 in favour of the assessee, confirming the settlement.

Court :
ITAT New Delhi

Brief :
This appeal by assessee has been directed against the order of Ld. CIT(Appeals)-38, New Delhi dated 18.03.2019 for AY 2015-16.

Citation :
I.T.A No.4328/Del/2019

IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH “SMC-2” NEW DELHI

BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER
AND SHRI O.P. KANT, ACCOUNTANT MEMBER

I.T.A No.4328/Del/2019
Assessment Year:2015-16

Namit Gautam
C-612, Prateek Fedora
Apartments, Plot No. 11,
Sector-61, Noida.
PAN No. AGHPG5317M
Appellant

Vs.

ITO
Ward 59(2)
New Delhi.
Respondent

Assessee by Shri Priyanshu Singhal, CA
Revenue by Shri Sri Prakash Dubey, Sr. DR

Date of hearing: 24.12.2020
Pronouncement on 05.01.2021

O R D E R

PER BHAVNESH SAINI, J.M.

This appeal by assessee has been directed against the order of Ld. CIT(Appeals)-38, New Delhi dated 18.03.2019 for AY 2015-16.

2. We have heard Ld. Representatives of both the parties through Video Conferencing.

3. Ld. Counsel for assessee submitted that assessee has filed declaration in Form No. 1 & 2 before Income Tax Department and optedfor Vivaad se Vishwas Scheme to settle the tax dispute. He has,therefore, submitted that appeal of the assessee may be dismissed as withdrawn subject to issue of Form No. 3 in favour of the assessee.

4. In view of the above, appeal of assessee stands disposed off interms of the above, subject to issue of Form No. 3 in favour of the assessee.

5. In the result, the appeal of assessee stands disposed off.

Order pronounced in the open court.

Sd/- Sd/-
(O.P. KANT) (BHAVNESH SAINI)
ACCOUNTANT MEMBER JUDICIAL MEMBER

Dated: 05.01.2021
*Kavita Arora, Sr. P.S.

Copy of order sent to- Assessee/AO/Pr. CIT/ CIT (A)/ ITAT (DR)/Guard
file of ITAT.

By order
Assistant Registrar, ITAT: Delhi Benches-Delhi

FAQ :

The Vivaad se Vishwas Scheme is a government initiative designed to help taxpayers settle their outstanding tax disputes.

The assessee needs to file declaration forms, specifically Form No. 1 and Form No. 2, to opt into the scheme. Form No. 3 is issued upon successful settlement.

If an assessee opts for the VSV Scheme and files the necessary forms, their appeal can be dismissed as withdrawn, provided the settlement process is completed.

The appeal is dismissed as withdrawn subject to the issue of Form No. 3 in favour of the assessee, confirming the settlement of the tax dispute under the VSV Scheme.