Taxpayer Eligible for Vivad Se Vishwas Scheme on Disputed Interest: Madras HC

Tvl. Sanmac Mootor Finance Ltd. Vs Central Board of Income Tax (Madras High Court) In a significant decision regarding the interpretation of the Direct Tax Vivad Se Vishwas Act, 2020 (VSV Act), the Madras High Court has ruled that a taxpayer is eligible to avail the scheme’s benefits for disputed interest, even if the challenge to the interest demand was pending before the court in a writ petition on the specified date. The court set aside the rejection of a declaration filed by Tvl. Sanmac Mootor Finance Ltd. and directed the income tax authorities to process the application under the a...