ITAT Dismisses GE Steam Power System’s Appeal on opting for dispute Settlement under VSVS

The Income Tax Appellate Tribunal (ITAT) dismissed the appeals filed by GE Steam Power Systems for assessment years 2015-16 and 2016-17, as the company opted to settle the disputes under the Vivad se Vishwas Scheme (VSVS) 2024. The tribunal granted liberty to the assessee to revive the appeals if the application under VSVS fails to mature, without insisting on filing a condonation of delay application, considering potential delays in communication of the VSVS outcome.