In a significant move to resolve tax disputes amicably, GE Energy Europe B.V. opted for the Vivad Se Vishwas Scheme, leading to the withdrawal of its appeal in ITA No. 62/Del/2019 for the assessment year 2015-16. This decision reflects a broader trend of corporations using alternative dispute resolution mechanisms to handle tax issues.
GE Energy Europe B.V., based in Gurgaon, faced a tax dispute with the DCIT, International Taxation, Circle-1(3)(1), New Delhi. The dispute was over tax assessments for the year 2015-16, leading to an appeal against the order of the Dispute Resolution Panel (DRP-1) dated 17.10.2019.
The proceedings took place via video conferencing on November 29, 2021, under the benches of Shri R.K. Panda, Accountant Member, and Shri C.N. Prasad, Judicial Member. The appellant, represented by Shri Sachit Jolly, Advocate, submitted a request for withdrawal of the appeal, citing their decision to settle under the Direct Tax Vivad Se Vishwas Act, 2020. A certificate confirming this settlement was also submitted.
The Senior DR, representing the Revenue, had no objections to this withdrawal. Consequently, the tribunal accepted the withdrawal request, leading to the dismissal of the appeal as withdrawn.
This case is a testament to the effectiveness of the Vivad Se Vishwas scheme in reducing litigation and providing a pathway to amicable tax dispute resolutions. By opting for this scheme, GE Energy not only avoided prolonged litigation but also demonstrated a strategic approach to managing its tax affairs.
The resolution of ITA 62/Del/2019 through the Vivad Se Vishwas scheme highlights the importance of alternative dispute resolutions in tax matters, encouraging more companies to consider such options for handling similar disputes. This case will likely serve as a benchmark for future tax disputes resolutions.
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