INCOME TAX ACT, 1961

Section 54 Section 4

Vivad Se Vishwas Scheme - Benefit of - Settlement of disputes arising out of appeal pending before High Court - Assessee expressed intention to file Declaration in Form No 1 under the scheme

Assessee-HUF filed an appeal before High Court. During course of hearing, it was submitted on behalf of the assessee that the assessee intended to avail benefit of “Vivad Se Vishwas Scheme” to settle the disputes arising out of instant appeal and in that regard, the assessee was taking steps to file application / declaration in Form No. I. Held: In view of the submission made on behalf of assessee, the assessee was directed to file Form No. I and the competent authority was directed to process the application / declaration in accordance with the Act and pass appropriate orders as expeditiously as possible preferably within a period of six weeks from the date on which the declaration would be filed in the proper form. Thus, there was no need to keep the instant appeal pending before High Court and hence, the said appeal was dismissed by the High Court. Further, in order to safeguard the interest of the assessee, he was given liberty to get the appeal restored in the event the ultimate decision to be taken on the declaration filed by the assessee under “Vivad Se Vishwas Scheme” would not be in his favour.

REFERRED :

FAVOUR : Appeal dismissed

A.Y. : 2011-12

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