CBDT also says picking and choosing issues for settlement of an appeal is not allowedThe scheme would also cover TDS and TCS disputes which are pending in appeal
1 min read5 Mar 2020Taxpayers are at a significant disadvantage while pursuing such appeals on tax disputes
4 min read1 Mar 2020Cabinet’s decision to move amendments to the Direct Tax Vivad se Vishwas Bill, 2020 is based on suggestions received during Sitharaman’s post-budget industry consultationAs per the amendments proposed, the Vivad Se Vishwas scheme will cover cases where search and seizure have taken place where the recovery is below Rs5 crore
2 min read12 Feb 2020The scheme offers immunity from prosecution The Bill seeks to resolve ₹9.32 trillion worth tax disputes
2 min read9 Feb 2020The tax department will not appeal to the tax tribunal (ITAT) unless the ‘tax effect’ or the disputed tax claim is over ₹50 lakh in a caseThe move is expected to improve ease of doing business for companies struggling to cope with a cooling down economy.
1 min read8 Aug 2019A bench comprising justices U.U. Lalit and Ashok Bhushan sought the central government’s response on the matter within four weeksThe court had also noted that the assessments for the years in question were either facing special audit or pending before the assessment officer for scrutiny.
1 min read19 Jan 2019Niger's tax directorate has ordered the closure of Airtel Niger offices, seeking tax amounts that have been disputed by the telco
1 min read11 Dec 2018While Vodafone is supposed to file its response to the government objection by July, India will respond by December
2 min read20 May 2018International arbitration proceedings are well advanced with the final hearing of Cairn's claim under the UK-India Bilateral Investment Treaty scheduled for August 2018
2 min read23 Jan 2018SC allowed the appointment of a presiding arbitrator but added that the arbitration proceedings will not start before 10 Januaryuntil completion of hearing of the case in the Delhi high court
1 min read15 Dec 2017The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared