Quick Summary
The Central Government has consciously adopted a policy to make the processes under the Act, which require interface with the taxpayer, fully faceless. In this backdrop, new schemes for faceless assessment, for faceless appeal at the level of Commissioner (Appeals) and for faceless imposition of penalty have already been made operational. Further, the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 has empowered the Central Government to introduce similar schem
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FAQ :
The Dispute Resolution Committee (DRC) is proposed to provide early tax certainty to small and medium taxpayers by settling disputes at an initial stage, preventing new disputes from arising.
Disputes are eligible if the returned income is fifty lakh rupees or less and the aggregate amount of variation proposed in a specified order is ten lakh rupees or less. Assessees have the option to opt for this dispute resolution.
Disputes arising from search, requisition, survey, or information received under agreements specified in sections 90 or 90A are not eligible. Also, assessees facing detention, prosecution, or conviction under certain laws are ineligible.
The DRC has the power to reduce or waive any penalty imposable under the Act or grant immunity from prosecution for an offence under the Act, subject to prescribed conditions.
This amendment will take effect from 1st April 2021.
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