I-T dept lines up Rs 1-trillion PSU tax row under 'Vivad se Vishwas Bill'

The Union Cabinet had on Wednesday expanded the scope of the scheme to cover litigation pending even in debt recovery tribunals

Responding to the Vivad se Vishwas Bill introduced in the Lok Sabha earlier this month, the Income-Tax Department has identified at least 50 central and state public sector undertakings (PSUs) to be covered under the litigation settlement scheme. These state-run firms have been embroiled in legacy tax rows involving an estimated disputed amount of Rs 1 trillion, according to sources in the know.  

The action plan came up in a video-conferencing discussion on Thursday between the  top officials of the Central Board of Direct Taxes (CBDT) and  Revenue Secretary Ajay Bhushan Pandey.

The Union Cabinet had on Wednesday expanded the