I have a refund of 1 crore as per VSV in AY 2010-11 and demand of 2 crores under IT Act in AY 2011-12. If I go under VSV only for AY 2010-11, will I get cash refund of 1 crore or it will be completely adjusted against demand of AY 2011-12?
Provide basis for your answer if you have any. As per my understanding, they cannot adjust because both are separate Acts.

Can we avail the benefit of VSV scheme for the Order passed u/s 154 but the same has not bee appealed before any authority

Dear Sir/Madam,

In Vivas se Vishwas scheme we have recieved Form 3 , now we need to pay the amount.
Whether it is to be paid under Self Assessment or Regular Assessment ?

in the case of NON PAN Assesses or the case through legal heir. there Legal Heir have the PAN but the the actual assesses has not have any PAN Allotted so this person can filed the VSV

If the Assessing officer has made 3 additions to the Total Income of assessee, but the Assessee wants to avail the benefit of Vivad se vishwas scheme only for a single addition & continue the appeal for the remaining additions, then in form 1&2 of VSV, where can we specify that the total additions are Rs.42,30,056 and the only Rs.17,50,000 is for filing under VSV? kindly suggest

AO raise demand of 10 lakhs without giving credit of 1lakh paid as SA tax so what is the amount of disputed tax in this case??
10lakhs or 9 lakhs

The Assessee is opting for not to pay tax and go for reduction of losses. Schedule D to be filled up. As there is NIL tax liability on account of loss return as well as assessed loss. whether to fill Schedule A ? Can we say disputed tax is NIL and disputed income is the amount of disallowance.

The Assessee won the matter in ITAT but lost the matter in High Court and filed a Review which too was dismissed. Then he filed a second Review on Ground that tax amount being below 50 lacs, dept should have withdrawn the Reference from the High Court, and the Order passed by the HC ought to be Recalled.

In case of my client, Transfer Pricing adjustment has been made because of which my returned loss is converted into a taxable income. However, the client is having brought forward business losses which if adjusted will lead to a NIL income. The AO has also initiated penalty under section 271(1)(c), 271AA and 271G.
The AO has passed the assessment order without offsetting the previous year losses. Rectification application is filed however the order is awaited. The following are our queries.
1. Can we offset the losses at the time of filing VSV.
2. If we opt for VSV whether penalty under section 271(1)(c), 271AA and 271G would be waived off?

Assessee is in appeal for disputed tax, meanwhile AO has also initiated penalty u/s 271(1(c). Will the penalty waived off once VSV is opted against disputed tax on Assessment order