| Query | An order u/s 143(3) was passed making certain additions. The total income was a loss. Appellant filed appeal on additions made. Subsequently the order u/s 143(3) was rectified u/s 154 making modifications to the income. This resulted in payment of taxes and interest(including 234D). No appeal was filed on the order u/s 154. |
| Answer | We presume that the in the order u/s 154 the Assessing officer has made further addition in the rectification order . The assessee may have to file an appeal also against the order u/s 154 of the Act. If the assessee desires to avail the advantages of the scheme , the appeal can be filed by making an application for… (read more) |
Answers to queries on Vivad Se Vishwas Scheme
| Query | Sir, THANKS SIR |
| Answer | One may have to provide the proof of payment of taxes, as it is normally done when a demand is raised against the taxpayer. (Zerox copy of challan can be enclosed ) . The payment details can be provided with Form 4. For withdrawal of appeal , the assessee can make an application to the… (read more) |
| Query | assessment completed u/s 143(1) was re opened u/s 147. Assessee filed reply stating that original return be taken as compliance u/s 147. However on receipt of u/s 148 notice,addl tax amt was paid. re opened assessment was completed making addition giving credit for addl tax amt paid and charging interest and claiming the balance amt payable . can addl amt already paid be taken as towards disputed tax liability. Appeal is pending before CIT(A) |
| Answer | One has to read the grounds of appeal filed before the CIT(A) . For an example out of five additions made by the AO in the reassessment proceedings, if the assessee challenges only two additions the tax in dispute has to be computed in respect of only in respect of two additions . If any excess amount of tax was paid… (read more) |
| Query | I would like to know if a notice under Section 226(3)of the Income Tax Act asking the bank to freeze the account of the asssesee can be challenged on the ground that the assessee did not have an opportunity to show cause why the notice should not be enforced against the assessee by the bank. |
| Answer | For an attachment to occur, a Certificate has to be received by the TRO from the Ld. Assessing Officer for the recovery of arrears. Pursuant to receiving the certificate, the TRO is required to issue a Notice to the Assessee requiring the assessee to pay the amount specified in the certificate within fifteen days from… (read more) |
| Query | I had form no.1 for VSV Scheme on 21 may 2020 and we are eligible for the scheme and the form no.1 had been successful submitted. After successfully submitting the form no.1 a notification came saying that you will get a mail on your registered mail ID for the receipt of the same and now since then when ever we checking the status it shows ‘awaiting for form 3’. It has been 2 months now that no notification or mail or any other messages has been conveyed by the department. Please could someone guide me with what steps should I take. And due to the pandemic the office here in my city is not functioning regularly. Please do give some guidance. |
| Answer | As we understand, you have filed Form 1 & 2 and are awaiting Form 3 from the Department. As these are uncertain times, there might be a delay on the part of the Department as it is not functioning at full capacity. We would advise you or your consultant to approach your Designated Authority as… (read more) |
| Query | can we take benefits of scheme under vivad se vishwas if appeal decided against assessee on 20/06/2020 by cit[A] THE said appeal were pending as on 31/01/2020C |
| Answer | According to us it may not be possible to take advantages of the scheme after the appeal is heard and the receipt of the order from the office of the CIT (A). . When an assessee file an application under the scheme before the designated authority , the appeal must be pending . However in case the appeal is decided… (read more) |
| Query | As per form 1 and 2 of VSV the amount payable before 31/12/2020 works out to Rs.2,27,11,500/-.How ever as per Rectification order for AY 2015-16 there is refund of Rs.2,52,00,000/-.So as per scheme there will be refund of Rs. 24,88,500/-.However there is no coloumn in the form 1 & 2 for adjustment of refund.What is the remedy? |
| Answer | As we understand, you have filled Form 1 & 2 thereby declaring an amount payable of Rs. 2.27 Crores and thereafter, a rectification order is passed to refund Rs. 2.52 Cr, by virtue of which there is now an amount refundable to the assessee under VSVA. It is advisable to file revised Form 1 & 2 . In… (read more) |