| Query | My ITAT appeal was pending as on specified date. In Sep I got an unfavorable order by the ITAT on merit. Am I eligble to VsV to save penalty and interest as the rules prescribe that the appeal should be pending as on specified date and did not envisage a situation when VsV scheme got extended and lot of appeals will be adjusidicated between Jan 31 2020 and 31 Dec 2020. |
| Answer | If your appeal is already heard any adjudicated by the ITAT, you are not eligible under VSVA. Unless you have intimated the ITAT about your intention to avail the Scheme in writing, and the ITAT still proceeded to adjudicate on merits. If the appeal was decided ex -prate without giving an opportunity of hearing the… (read more) |
Answers to queries on Vivad Se Vishwas Scheme
| Query | Respected Sir |
| Answer | You may have to find out when was the last date for filing an appeal before the High Court. As per S.260A(2)(a) of the Act the time limit is 120 days from the date of receipt of the Order. However as per Section 260A (2A) the High Court has the power to condone the delay in filing of an appeal… (read more) |
| Query | The CIT(A) accepted the contention of the taxpayer and deleted the disallowance made by the Assessing Officer. The Revenue preferred an appeal before the Income Tax Appellate Tribunal. If we opt for the VsV scheme, since the disallowances have been deleted by the CIT(A), would the taxpayer still be liable to pay taxes as per the order of the Assessing Officer or the decision of the CIT(A) form the base of payment of tax. |
| Answer | As first proviso to section 3 of VSVA, on departmental appeal, the declarant-assessee has to only pay half of the amount under VSVA i.e. 50 percent of the disputed tax amount and not as per the assessment order. (read more) |
| Query | Respected Sir, Since one of my appeals, though pending in ITAT, as on 31.01.2020, was decided against me after 31.01.2020.As the law is very clear that the appeal should be pending as on 31.01.2020, which in my case is true. However, while filing Form 4 of VSVS, it wants the proof of withdrawal (while the Act says in ITAT, it will be deemed withdrawal). However, since my appeal has been already heard, how can I file this withdrawal proof. |
| Answer | If your appeal is already heard and adjudicated by the ITAT, you may not be eligible under VSVA. Unless you have intimated the ITAT about your intention to avail the Scheme in writing, and the ITAT still proceeded with the case. Please verify whether the order is signed by the Honourable Members . If the order… (read more) |
| Query | We have a disputed penalty case pending at high court. I filled Schedule C for disputed penalty. But at the time of upload it is showing an error that Schedule A or Schedule D needs to be filled. There are no details of unabsorbed depreciation or loss or MAT credit in my case. Please help. |
| Answer | From what we understand, Quantum dispute is paid by the assessee and Penalty matter is before the High Court. Penalty can be settled by paying 25 per cent of the penalty in dispute. In case of any glitch or technical issues on the portal it is advisable to contact your designated authority under VSVA. (read more) |
| Query | IN THE CASE OF LONG TERM CAPITAL GAINS, IS IT NECESSARY TO GIVE SHAREWISE DETAILS FOR A.Y 2020-21?. |
| Answer | As per Ministry of Finance Press Release Dated, September 26, 2020, the scrip wise details in the return of income for AY 2020-21 is required to be filled up only for the reporting of the long-term capital gains for these shares/units which are eligible for the benefit of grandfathering( which was provided by the Finance… (read more) |
| Query | As part of Vivad se vishwas, I have paid all my tax dues, but the IT authorities has not yet given me my form 5 even after 3 months after payment. When will the authorities give me form 5? |
| Answer | This is a common issue raised by other declarants and their representatives. There is a delay in responses from the Department on account of the pandemic, and Faceless Assessment/Appeals. You could wait for a reasonable time and then approach your designated authority under VSVA. (read more) |
| Query | Hi Sir, We have filed appeal on 01.02.2020. on 31.01.2020 we have tried to file appeal but due to non availability of DSC we have filed the same on 01.02.2020. now my query is can we apply for Vivad se Vishwas Scheme with a Condonation letter? Please suggest me the best way to resolve the situation. Thanking You, Sir |
| Answer | As per VSVA, to be eligible under the Scheme, an appeal or deemed appeal is required to be pending on the specified date i.e. January 31, 2020. If your appeal filing is delayed and a good filing would have been before the specified date; you case will be eligible under VSVA, once your application for… (read more) |
| Query | We have uploaded Form 4 but on portal it’s sayawaiting Form 5 what times it’s take to upload Form 5 by department |
| Answer | There is a delay in responses from the Department on account of the pandemic, and Faceless Assessment/Appeals. You could wait for a reasonable time and then approach your designated authority under VSVA. (read more) |
| Query | have filed the form 1 and form 2 online for vivad se vishwas scheme on 17th july 2020 . have already paid tax and refund has to be taken . it is more than 2 months but have not received any response from the department online. secondly appeal is pending with ITAT. do I have do withdraw the appeal or will it be withdrawn by the department. |
| Answer | There is a delay in responses from the Department on account of the pandemic, and Faceless Assessment/Appeals. You could wait for a reasonable time and then approach your designated authority under VSVA. Further, As per section 4(2) of VSVA, Upon the filing the declaration, any appeal pending before the Income Tax Appellate Tribunal, in respect… (read more) |