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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Act 2021 Introduces Dispute Resolution Committee for Certain Income Tax Disputes, Offering Penalty Reductions and Immunity</h1> Chapter XIX-AA, introduced by the Finance Act, 2021, establishes the Dispute Resolution Committee (DRC) for resolving certain income tax disputes. The Central Government will form one or more DRCs to handle disputes for individuals or classes of individuals meeting specific conditions. The DRC can reduce or waive penalties and grant immunity from prosecution. The government may implement a scheme to enhance efficiency, transparency, and accountability in dispute resolution, with notifications laid before Parliament. Eligibility excludes individuals with certain legal issues or orders against them, and disputes must not exceed specified financial thresholds.
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