TMI Blog2024 (4) TMI 530X X X X Extracts X X X X X X X X Extracts X X X X ..... a, concluded that an assessee has the leeway to settle any one appeal under the VSV Act and is not required to settle all the pending appeals filed by the respondents/revenue. The coordinate Bench has categorically held that the unit of settlement under the VSV Act is not an assessment year but any appeal, writ petition or an SLP . In this regard, the coordinate bench has referred, inter alia, to the provisions of Section 2(1)(j) read with Section 2(1)(a) of the VSV Act. Thus revenue, cannot but accept that the issue raised in the present petition is covered by the decision of the coordinate Bench. Accordingly, the writ petition is allowed. The order rejecting the subject Forms and the communication are set aside. - HON'BLE MR. JUSTIC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r A.Y. 2010-11 on 06.10.2010, declaring a total income of Rs. 1,35,07,54,180/-. The case of the petitioner/assessee was selected for scrutiny and notice under Section 143(2) of the Income-tax Act, 1961 [in short, the Act ] was issued. The Assessing Officer (AO) framed a draft assessment order under Section 143(3)/144C(1) of the Act via order dated 24.03.2014, computing the taxable income of the petitioner/assessee at Rs. 1,67,02,81,897/-. In addition to this, interest from External Commercial Borrowings [ECBs], amounting to Rs. 1,97,68,25,304/-, was added to the taxable income of the petitioner/assessee. 4.1 Aggrieved by the draft assessment order, the petitioner/assessee pursued objections before the Dispute Resolution Panel [in short, DRP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... confined itself to two (2) out of the five (5) issues that were raised by respondents/revenue. 9. The respondents/revenue preferred a Special Leave Petition (SLP) in the Supreme Court against the order dated 28.11.2017. 10. It is against this backdrop that the petitioner/assessee took recourse to the Direct Tax Vivad Se Vishwas Act, 2020 [in short, VSV Act ] and Rules. 11. The endeavour to have the matter settled under the VSV Act failed for the reason contained in the impugned communication dated 17.02.2021 passed by respondent no. 1/revenue to which we have made a reference hereinabove. 12. Therefore, the moot question that arises for consideration is: can an applicant, under the VSV Act, choose to settle one or more of the appeals, while ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 10 and 11 of the DTVSV Rules. This is also evident from the statutory Form No. 5 issued by the designated authority prescribed under the Rules where the Column No. 3 records the detail of the Details of dispute settled (Appeal Reference Number) . 35. The submission of the revenue that under the DTVSV Act the unit of settlement is an assessment year is contrary to its own stand as the Department has no grievance with the petitioner not settling the appeal filed by it for the same assessment year, but requires the petitioner to settle all the Departmental appeals for an assessment year. In fact, the aforesaid position is not borne out from any provision of the DTVSV Act or the Rules. Consequently, the unit for settlement of dispute under th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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