This document provides a detailed analysis of the withdrawal by Green Infra Corporate Solar Limited of its tax appeal for the assessment year 2016-17, under the Vivad Se Vishwas Scheme.
Green Infra Corporate Solar Limited, a prominent entity in the solar energy sector, filed an appeal against the order of the Learned CIT(A)-4, New Delhi, concerning the assessment year 2016-17. This appeal was later withdrawn in favor of settling the dispute under the Vivad Se Vishwas Scheme, 2020.
The case initially sought to challenge certain tax assessments, but the company opted to withdraw the appeal, submitting a certificate under Section 5(1) of The Direct Tax Vivad Se Vishwas Act, 2020. This decision was facilitated by the lack of objection from the Learned Senior DR and was formalized in a virtual hearing.
The decision to withdraw the appeal and settle under the Vivad Se Vishwas Scheme indicates a strategic move by the company to resolve disputes efficiently and avoid prolonged litigation. This document examines the implications of such a decision for the company and provides insights into the effectiveness of the Vivad Se Vishwas Scheme as a dispute resolution mechanism.
This analysis not only sheds light on the specific case of Green Infra Corporate Solar Limited but also offers broader insights into the tax dispute resolution landscape in India, highlighting how legislative tools like the Vivad Se Vishwas Scheme are shaping corporate decisions.
Case Analysis: Green Infra Corporate Solar Limited’s Withdrawal of Tax Appeal for AY 2016-17
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