Preface

In the year 2019 the Central Government came out with Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019. This scheme sought to settle disputes in the area of indirect taxes. The scheme has had huge success so that around 1.89 lakh cases were settled. This success has given birth to the idea of a similar settlement scheme in the area of Income Tax.

Presently, a large number of income-tax cases stand stuck in litigation at different appellate forums. It is reported that a sum of ` 9.32 lakh crores is held up in dispute. Sensing that this amount will not be realised till the appeals got disposed of to the extent of the litigating parties getting all legal options exhausted, the government thought it fit to offer the present income-tax disclosure scheme so as to settle the existing disputes at one go and realise tax revenue as early as possible.

For pursuing the income-tax settlement of disputes, the Government has now brought a separate legislation called The Direct Tax Vivad Se Vishwas Act, 2020. Any appellant in whose case a demand exists either towards disputed tax or disputed fees or disputed penalty or disputed interest, can file a declaration under the Direct Tax Vivad se Vishwas Act, 2020 [DTVV] with the designated authority. The related declaration can be filed in Form No. 1 "duly signed and verified by the declarant or any person competent to verify the return of income on assessee’s behalf in accordance with section 140 of the Income Tax Act, 1961" in respect of tax arrears. This declaration can be made by the appellant wherever a dispute is pending as on 31-1-2020 and can be made on or before the last date to be notified by the Central Government, which date as of now is notified as 31-12-2020.

Various issues have arisen in recent past as to the applicability of this Act and a lot of queries are being raised. In this view of matter a need was felt of publication of a book on the related topic. As a consequence, this e-Book is being published for our valued readers.

This book tries to explain the provisions of the Direct Tax Vivad se Vishwas Act, 2020 in a lucid manner and resolves all possible queries which may be arising. We have also taken reference of cases decided under all such schemes in the past and have also devoted a separate chapter to all the cases which may be relevant in the context of this Act in point.

The text of the book stands fully updated in the wake of the various clarifications, the FAQs so far issued, including the recent Circular No. 21/2020, dated 4-12-2020.

Hope our effort is found to be useful.

JODHPUR	Dr. AVADHESH OJHA
10 DECEMBER, 2020	CA. MANOJ GUPTA