Due to change of name and conversion of Private Limited Company into Public Limited company it’s PAN was changed. Assessment in the New Name and new PAN was completed and appeal is pending before CIT(A). Based on 26AS Best Judgment Assessment in the Old Name and Old PAN was completed. In the Assesssment Order AO has written both names of the Company, however PAN written is older one. We have filed appeal against this Order U/s. 144 in the New Name and under New PAN. Whether and How we can settle both disputes under DTVSV Scheme? In New PAN there are Two Appeals while in the Old PAN there is no pending appeal. Two separate Demands are standinig against both PAN.

Thanking you all in anticipation,

TDS DEFAULT U/S 201(1) / 201(1A)

TDS DEFAULT U/S 201(1) – RS 125988/-.
INTEREST PAYABLE U/S 201(1A) – RS 181873/-.

Assessee has to Rs 45468/- ( 25% of Interest amount only) whether this treatment is correct as per FAQ 32 of VSV scheme

This is a case of bogus purchases. Brief facts of the case are as under:

1) In year 1, the AO disallowed capital bogus purchases and the depreciation thereon. Thereafter, in appeal before the ITAT, the ITAT set aside the matter back to the AO for fresh adjudication (as additional evidence was filed before ITAT).

2) In year 2, the AO once again disallowed the depreciation portion in respect of the capital assets which were disallowed in year 1. The CIT(A) in year 2, deleted the said addition as on that particular date when the CIT(A) order was passed, the AO has not passed any order for year 1 as per the directions of the ITAT.

The assessee is opting for VSV scheme in year 1 wherein the matter in dispute relates to addition on account of capital assets and depreciation thereon (set aside matter)

The assessee is opting for VSV scheme in year 2 as well, however, in year 2, the disputes are in respect of other matters before the ITAT (i.e. the depreciation portion which is already deleted by the CIT(A) is not in dispute)

Based on the facts stated above, our questions/queries are as under:

1. Do we need to pay tax under the VSV scheme on the depreciation disallowance for year 2? Please note that the said depreciation for year 2 is not in dispute presently and the assessee will be paying tax on the depreciation under the VSV scheme in year 1.

2. As the assessee will be paying tax under VSV scheme in year 1 in respect of depreciation disallowance, whether the same will have any impact on the assessee’s position in year 2.

3. For year 2, can we write a letter to the AO to give effect to order of CIT(A) in respect of deletion of depreciation which has arisen on account of bogus purchases in year 1?

The notice date under 274 is 20/11/2019, but the penalty order came on 6/2/20. This is under appeal. Is this eligible of VSVS?

An addition was made in respect of stock found during survey as the department did not rely on the evidence of a challan filed by the assessee, who had taken the stock on approval from the party. The department made addition considering the same to be assessee’s stock. Now the assessee is in an appeal before the CIT(A), appeal filed before 31.1.2020 and wants to go for VSV scheme. Once he pays the tax for the stocks found with him, can he capitalise the stocks in his books of account?

An addition was made in respect of stock found during survey as the department did not rely on the evidence of a challan filed by the assessee, who had taken the stock on approval from the party. The department made addition considering the same to be assessee’s stock. Now the assessee is in an appeal before the CIT(A), appeal filed before 31.1.2020 and wants to go for VSV scheme. Once he pays the tax for the stocks found with him, can he capitalise the stocks in his books of account?

Since the assessee appellant company had filed under VSVS Scheme and consequent upon receipt of Form 3 and the assessee paying the settled due amount is required to filed form no 4 under VSVS Scheme. One of the pre condition in submitting form 4 is that the pending appeal is to be withdrawn and a withdrawal proof is to be attached. Since the appeal was origin ally filed with CIT A 36 who in response to withdrawal application says that the appeal jurisdictions are now changed in view of the faceless appellant provisions applicable with effect from 1st October 2020. It is not known who is to be contacted for the purpose of such withdraw al as there is no facilities to contact national E Faceless appeal center. Now how to comply with the 15 days period time limitation required for filing form 4. Please help out urgently.

If an assessee has filed an appeal before the ITAT on certain issues and the department has also filed another appeal in respect of certain issues for the same assessment year and the assessee wants to go for the VSV scheme in respect of appeal filed by him but wants to contest the appeal filed by the department. Can the assessee go for VSV in respect of appeal filed by him and contest the appeal filed by the department in the ITAT. Both the appeals are separate appeals and not cross-objections.

in case of search the assessee is accepting reduction of loss/depreciation, so as per scheme 125% is reduced but while filing form 1& 2 under schedule D of the form under the head disputed income 100% of loss amount is to be entered or 125% of loss amount , as there is no separate coloumn for search case as there is in Schedule A .

whether penalty leived on 234E fees is fully waived off under scheme or 25% is to be paid?