ITAT Allows Vivad Se Vishwas Settlement as Wrong Appeal Was Withdrawn by Bona Fide Mistake

Venkata Reddy Sathi Vs ITO (ITAT Visakhapatnam) The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) allowed the assessee’s appeal after holding that a bona fide mistake in withdrawing the wrong appeal did not defeat settlement under the Direct Tax Vivad Se Vishwas Scheme, 2020. The assessee had filed the return of income for AY 2016-17 declaring total income of Rs. 4,75,040. Subsequently, reassessment proceedings were initiated under Section 148, and a reassessment order was passed on 23.05.2023. The assessee challenged the reassessment order before the CIT(A) on 06.06.2023. ...