In an important development on the tax front, Genpact Mobility Services India Pvt. Ltd. reached a resolution for its tax disputes for the assessment year 2013-14. This resolution occurred under the judicial oversight of the Income Tax Appellate Tribunal, Delhi Bench ‘F’. The case, bearing the identifier ITA Nos. 557 & 558/Del/2019, was decided in a session held via video conferencing, marking a significant conclusion to the fiscal disputes of the company for the said year.
The company chose to withdraw its appeal, which it had earlier filed against the orders of the learned Commissioner of Income-tax (Appeals)-4, New Delhi. This decision was made in light of the Vivad Se Vishwas Scheme, 2020, which offers a legal framework for the settlement of pending tax disputes. The withdrawal was formalized on December 22, 2020, and it highlights a strategic move by Genpact Mobility Services to leverage this government scheme to amicably resolve disputes and mitigate prolonged legal proceedings.
The case was presided over by Shri G.S. Pannu, Vice President, and Shri Sudhanshu Srivastava, Judicial Member, who accepted the withdrawal of the appeals. This legal development underscores the company’s efforts to maintain compliance and fiscal prudence while navigating the complexities of tax obligations in India.
The resolution not only closes the chapter on the disputes for the assessment years 2013-14 and 2014-15 but also sets a precedent for other corporations on the benefits of utilizing governmental schemes like Vivad Se Vishwas to handle tax-related issues efficiently.
Tax Dispute Resolution of Genpact Mobility Services India Pvt. Ltd. for AY 2013-14
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