GE Steam Power System’s Income Tax Appeals Dismissed on opting VSVS

GE Steam Power Systems Vs ACIT (ITAT Delhi) Income Tax Appellate Tribunal (ITAT) Delhi bench has dismissed appeals filed by GE Steam Power Systems for assessment years 2015-16 and 2016-17. The dismissal followed the company’s decision to settle the tax disputes under the Vivad se Vishwas Scheme, 2024 (VSVS). GE Steam Power Systems informed the ITAT that it had filed Form No. 1 for both assessment years on December 26, 2024, indicating its intent to opt for the VSVS, although Form No. 2 from the department was still pending. The Departmental Representative did not object to the appeals be...