The Direct Tax Vivad se Vishwas (from dispute to trust) Act, 2020 received assent of The President on the 17th March, 2020. It aims to resolve direct tax related disputes in a speedy manner.
Salient Features
Wide Coverage: It has provisions to cover tax disputes pending at the level of Commissioner (appeals), Income Tax Appellate Tribunals (ITAT), High Courts and the Supreme Court.
Resolution Mechanism: Under the proposed scheme, taxpayers willing to settle disputes shall be allowed a complete waiver of interest and penalty if they pay the entire amount of tax in dispute.
Immunity to Appellant: Once a dispute is resolved, ....
