Fatema Hunaid, Partner, Grant Thornton India LLP, says one of the expectations from the Budget was around mitigation of transfer pricing litigation.
Vivad se Vishwas Scheme, in which one can pay the tax demand by March 31, 2020 with a waiver of interest and penalty dispensed, seems appealing as a one-time measure.
Introduction of ‘faceless appeal’ procedure is also a good initiative. No significant initiative to contain current and future litigations as the said scheme has a window of two or five months only.