Tax Dispute Resolution Scheme 2016: Settle Pending Cases as of Feb 29, 2016; No Installment Payments Allowed.
The Direct Tax Dispute Resolution Scheme, 2016, offers taxpayers in litigation a chance to settle disputes. Clarifications address various scenarios: cases involving retrospective amendments are eligible if disputes were pending as of February 29, 2016. Assessees must withdraw court petitions challenging such amendments to avail the Scheme. The Scheme doesn't require revenue to withdraw appeals if the assessee benefits in other years. Tax payments cannot be made in installments. Disputes determined after February 29, 2016, are ineligible. Penalty orders under sections 271C or 271CA and search-related assessments are not covered. Non-fulfillment of conditions revives pending proceedings.
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