SC: Hard to Believe Married Woman Was Lured Into Sex by False Marriage Promise; Case Quashed  ||  SC: Properties Acquired by Karta are Presumed to be Joint Hindu Family Assets unless Proven Otherwise  ||  SC: Trial Courts Must Record that Free Legal Aid was Offered to Accused Before Witness Examination  ||  SC: State Government Employees Cannot Claim Dearness Allowance Twice a Year Unless Rules Allow  ||  P&H High Court: Anticipatory Bail on Settlement Can be Revoked if Compromise is Broken  ||  Delhi High Court: Consenting Adults can Choose Life Partners Without Societal or Parental Approval  ||  Cal HC: Excessive Palm Sweating Alone Cannot Render Candidate Medically Unfit for CAPF Appointment  ||  Del HC: Mother's Right to Education and Personal Growth Cannot be Restricted Due To Custody Disputes  ||  SC: Under RTE Act, States Cannot Justify Low Teacher Pay by Citing Centre’s Failure to Release Funds  ||  Supreme Court: While a Child’s Welfare is Paramount, It is Not the Sole Factor in Custody Disputes    

Direct Tax Vivad se Vishwas Bill, 2020 introduced in Lok Sabha - (05 Feb 2020)

Direct Taxation

The Minister of Finance introduced the Direct Tax Vivad se Vishwas Bill, 2020 on February 5, 2020, a mechanism for resolving tax disputes pending in various Appellate Forums. The last date to file declaration will be notified by the Central Government. The Principal Chief Commissioner will designate an officer, not below the rank of a Commissioner of Income Tax, as the designated authority to manage the proposed resolution mechanism. The bill seeks to reduce litigation expenditure. While Introducing the Bill, 2020, the Minister said that, this bill emphasises on trust-building.

The Bill defines an Appellant as the income tax authority, or the person, or both, whose appeal is pending before any appellate forum as on January 31, 2020. These appellate forums are the Supreme Court, the High Courts, the Income Tax Appellate Tribunals, and the Commissioner (Appeals). The proposed mechanism will not cover disputes: (i) where prosecution has been initiated before the declaration is filed, (ii) which involve persons who have been convicted or are being prosecuted for offences under certain laws (such as the Indian Penal Code), or for enforcement of civil liabilities, and (iii) involving undisclosed foreign income or assets. For dispute resolution, the Appellant is required to furnish an undertaking waiving his rights to seek any remedy or claim in relation to that dispute under any law, including the Income Tax Act, 1961 (IT Act)

When a dispute is resolved, the designated authority cannot levy interest or penalty in relation to that dispute. Further, no appellate forum can make a decision in relation to the matter of dispute, once it is resolved. Those matters cannot be reopened in any proceeding under any law, including the IT Act. Further, the declaration filed by an Appellant will become invalid, if its particulars are found to be false and he violates any of the conditions referred to in the IT Act.

Tags : SETTLEMENT   DISPUTES   BILL  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved