Vivad Se Vishwas II (VSV II) Scheme, 2024, aims to reduce pending tax appeals and provide taxpayers a chance to resolve disputes amicably. However, a key issue arose as the scheme only covers cases where appeals or revisions were pending as of July 23, 2023. This has created uncertainty for taxpayers whose normal time to file appeals had not expired by this date but refrained from filing, assuming provisions similar to the earlier scheme. The absence of such provisions has led to taxpayer concerns and legal challenges, including the case of Naveen Kumar Agarwal vs CBDT in the Delhi High Court, which directed the CBDT to address the matter. Representations have also been made by various stakeholders, emphasizing that a significant number of cases remain affected.
Read more at: https://taxguru.in/income-tax/representation-relaxation-vsv-scheme-ii.html
Copyright © Taxguru.in
