Thursday, 19 December 2024

CBDT issues second round of frequently asked questions in relation to Direct Tax Vivad Se Vishwas Scheme, 2024

 This Tax Alert summarizes Circular No. 19/2024 dated 16 December 2024 (VSV 2- December Circular) issued by the Central Board of Direct Taxes[1] (CBDT) which contains second round of 27 frequently asked questions (FAQs) on the operation of Direct Tax Vivad Se Vishwas Scheme, 2024 (VSV 2). The Circular is issued in continuation of an earlier Circular No. 12/2024 dated 15 October 2024[2] (VSV 2 - October Circular) which contained the first round of 35 FAQs.
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SC holds extended period cannot be invoked if allegations are not justified in the show cause notice issued under section 74

  This Tax Alert summarizes a recent judgement of the Supreme Court (SC) [1] on whether a show cause notice (SCN) under Section 74 of the ...