INCOME TAX OFFICER- 3(2), KANPUR vs. SHRI MAYUR GUPTA, KANPUR

At the outset, it was noticed that the I.T.O.(T&J) on behalf of the Revenue has submitted an application dated 13.02.2024, received by the Registry of this Office on 23.02.2024, vide which it has been stated that Income Tax Department has passed Order in Form No.5 on 15.11.2021 for Assessment Years 2014-15 & 2015-16 under Vivad Se Vishwas Scheme. The Revenue has filed the copies of Form No.5, i.e., the order of the Principal Commissioner of Income Tax-1, Kanpur for full and final settlement of tax arrears under section 5(2) read with section 6 of the Direct Tax Vivad Se Vishwas Act, 2020.

It was contended on behalf of the Revenue that since the assessee has opted for Vivad Se Viswas Scheme and tax payable by the assessee has been deposited and order for final settlement of tax arrears has been passed by the designated authority, therefore, the appeals filed by the Revenue may be dismissed as withdrawn.

The assessee has also filed an application dated 20.01.2024 enclosing therewith the copies of Form No.5, i.e., the order of the Principal Commissioner of Income Tax-1, Kanpur for full and final settlement of tax arrears under section 5(2) read with section 6 of the Direct Tax Vivad Se Vishwas Act, 2020 and stated that the appeals filed by the Department are liable to be withdrawn. 5. Accordingly, since the order has been passed by the Principal Commissioner of Income Tax-1, Kanpur for full and final settlement of tax arrears under section 5(2) read with section 6 of the Direct Tax Vivad Se Vishwas Act, 2020, for A.Y. 2014-15, the appeals of the Revenue are dismissed. 6. In the final result, both the appeals of the Revenue stand dismissed.