The assessee may have to file detailed reply explaining the facts and also  file the copy of form  Nos , 1, 2, 3 and tax paid details  in response to show cause notice  and pray for  drop the penalty proceedings initiated against the assessee. It is also desirable to file  a  detailed reply to show cause notice on merit and also request for  drop the penalty proceeding .  The assessee should also mention that in case the  Assessing Officer decided to proceed further one ore opportunity of hearing may be granted to the assessee.  In case the assessing Officer levy  the penalty , it is desirable to file an appeal before the CIT ( A) .  

It is advisable to file an appeal before the Appellate Tribunal . Recently after considering the amendment  the  Tribunal held that payment made before due date of filing of return is allowable as deduction .  Salzgitter Hydraulics (P.) Ltd v. ITO ( 2021) 128 taxmann.com 192 ( Hyd) ( Trib),  Dy. CIT v. Dee Development Engineers Ltd. (2021) 87 ITR 38 (SN)  (Delhi)(Trib.)

It is advisable to make the claim before filing Form No 4 .   Make an application before the Designated Authority  to refund the excess payment made by the assessee. In case the amount is not refunded , the assessee may have to file writ before the High Court .  Refer   Circular No 4 of 2021 , dated 23 rd  March  , 2021 – Clarifications on provision of the Direct Tax Vivad Se Vishwas Act , 2020 -Reg ( Modification  FAQ  70  of Circular 21 of 2020   , Search and Seizure )   ( 2021 ) 432 ITR 50 ( St)

There is no time limit however it is advisable to file the Form No 4 at the earliest .

To understand the meaning of patent mistake  one may refer the judgement of Supreme Court in  T.S. Balram , ITO v. Volkat Bros (1971 ) 82 ITR 50 (SC)  , the Court held that debatable point of law or inference cannot be subject matter of rectification . 

Form no 1 and  form no 2 is filed by the declarant. If there is any mistake the declarant has to file the revised form .  Please refer circular No 21/2020 dt 4 -12 -2020 .    Q. No 89  Q.  Once declaration is filed by assessee u/s 4 of the Vivad Se Vishwas can the same be revised ? If yes , at what stage of the proceedings will the same be allowed  ? 

 Answer : Yes ,  declaration can be revised any number of times before DA issues a certificate under section 5 (1) of  Vivad Se Vishwas .  

However  we have been informed that under new portal there is no provision for making amendments . The assessee may have to contact the Designated Authority or may file manually .  

Schedule D :reads as under :  In case the appellant opts not to pay tax on additions having effect of reducing loss/ depreciation  or MAT credit forward then relevant column   of the  following schedule to be filed up .

If there are mistakes the declarant can file revised form and rectify the same . Designated Authority has to verify whether figures are correct  as per the assessment records . If the figures are not in accordance with the records  will modify the figures . There is no bar that the Designated Authority cannot rectify the Schedule D .Power of rectification is similar to section 154 of the Income -tax Act , 1961 , only patent obvious mistakes can be rectified  . One may refer ratio of judgement of Supreme Court in  T.S. Balram , ITO v. Volkat Bros (1971 ) 82 ITR 50 (SC)  , the Court held that debatable point of law or inference cannot be subject matter of rectification .  

There is no time limit now , however it is desirable to file the Form No 4 at the earliest .  In case the  application is  rejected the assessee may not get the  refund of the amount  paid under the scheme . In such a situation the assessee may have to file writ before the High court .   

There seems to be technical issues in the portal of the Income tax Department . The  assessee may contact the Designated Authority  or may write to the Chairman  CBDT . The assessee may also write to Shri S.R Wadhwa  Advocate , Chairman Representation  committee of the AIFTP ,who is interacting  with the CBDT  on day to day basis as regards  the functioning of portal . His email is , wadwasr@hotmail.com  or aiftpho@gmail.com   

The Assessee   may  get the form No 5 in due course of time . The Appellant may also write to the Designated Authority, informing the non -receipt of Form 5 . The choice is with the assessee  whether to contest the matter or wait for the receipt of Form no 5.  

Assessee can write the name of ICICI bank which is also authorized to collect the tax payment . Write correct PANO . There is no separate Challan  has been prescribed . It will be regular assessment tax challan , with minor head 400 . The bank will guide you