This article examines the settlement of a tax dispute involving Eros Grand Resorts & Hotels P.Ltd for the assessment year 2015-16, which was resolved under the Vivad Se Vishwas Scheme, a key initiative aimed at reducing litigation in direct tax disputes.
The case between Eros Grand Resorts & Hotels P.Ltd and the ACIT, Circle-8(2), New Delhi involved disputes over tax assessments for the years 2015-16. The appeals were directed against the orders of the CIT(A), which the company later opted to settle under the government’s Vivad Se Vishwas Scheme.
Initially, the appeals were lodged against perceived inconsistencies in the tax assessments by the CIT(A). However, with the introduction of the Vivad Se Vishwas Scheme in 2020, the company saw an opportunity to resolve the disputes amicably. The legal representation for Eros Grand Resorts & Hotels and the senior departmental representative agreed to withdraw the appeals, and the Tribunal officially accepted the withdrawal.
The settlement under the Vivad Se Vishwas Scheme illustrates the shifting landscape of tax dispute resolution in India. This move is part of broader efforts to streamline tax litigation and encourage settlements, which is particularly significant for businesses looking for closure on long-standing tax issues.
The resolution of the dispute for Eros Grand Resorts & Hotels marks a significant use of the Vivad Se Vishwas Scheme, showing its effectiveness in reducing litigation and providing certainty to taxpayers.
Manage the increasing number of hearings effortlessly by leveraging the legal AI revolution We are India's Leading revolutionary AI-powered legal platform where you can get enough insights into top cases and judgements.
Research Platform