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RAJIV SHAKDHER, TALWANT SINGH
Shyam Sunder Sethi – Appellant
Versus
Pr Commissioner Of Income Tax-10 & Ors – Respondent
JUDGMENT
Rajiv Shakdher, J. - The petitioner is aggrieved by the fact that his application filed under the provisions of the Direct Tax Vivad Se Vishwas Act, 2020 (in short "2020 Act") has been rejected.
2. The backdrop in which the petitioner approached the designated authority under the 2020 Act is, broadly, set forth hereafter:
3. The petitioner had filed his income-tax return concerning the assessment year 2011-2012 on 12.05.2012. In the return, the petitioner had declared his income as Rs.49,32,900/-. The petitioner avers that in the said income-tax return, exemption had been claimed under Section 54 of the Income Tax Act, 1961 (in short "1961 Act") and accordingly against "capital gains", the amount shown was "Nil".
4. The revenue, it appears, on 29.03.2018 issued a notice for reassessment under Section 148 of the Act, concerning the aforementioned assessment year.
4.1 In the reassessment proceedings, the exemption claimed by the petitioner under Section 54 of the 1961 Act was disallowed and the petitioner's income was recomputed. The income was, accordingly, assessed at Rs.3,08,94,767/-. This order was passed on 26.12.2018.
5. Being aggrieved, the petitioner preferred an appeal w
The appeal is considered pending as soon as it is filed and does not require admission before the specified date under the Direct Tax Vivad Se Vishwas Act, 2020.
Point of Law : Income Tax Act – Scheme "provide for resolution of disputed tax – Cut of date – Delay in making application - Scheme was intended to give a quietus to huge pending direct tax litigatio....
Point of Law - if an appeal is filed with an application for condonation of delay and the appeal is admitted by the appellate authority before the date of filing of the declaration, the benefit is to....
The main legal point established in the judgment is that the provisions of the 2020 Act should be construed liberally, and the petitioner should not suffer due to procedural complexities or inadverte....
The dismissal of an appeal can be considered 'in limine' if based on a mistaken understanding of earlier rulings, allowing for corrective measures under the 2020 Act, facilitating the revival of the ....
The central legal point established in the judgment is the interpretation of the eligibility criteria under the Direct Tax Vivad Se Viswas Act, 2020, and the adverse impact of additional qualificatio....
The court ruled that minor delays in tax payments under the Direct Tax Vivad se Vishwas Act should not preclude benefits intended by the legislation, emphasizing a liberal interpretation of beneficia....
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