The ao added back to our income transactions they considered as hawala. They then deducted the full tax and penalty and interest there on against a refund we had owing to us.

We appealed against the hawala decision. Matter has not been heard as of date.

How do we deal with this matter under the vsv scheme. Thanks

Can order by the Hon’ble ITAT be considered as FAVOURABLE order as addition @ 8%/100% is reduced to 3 % which is less than 5% (for which VSV is being opted).

Will answer be different if parties for which addition is made differs, but the addition is under purchases from Bhanwarlal Jain Group

Respected Sir,
I have already paid the Tax and the interest imposed on me but my appeal is pending with ITAT for hearing. If I decide to op[t for thios scheme would the dept refund the Interest which they imposed on the amount of Tax.

As per the provisions of section 246A(1)(a) of the Income-tax Act, an intimation under section 143(1) of the Income-tax Act is an order appealable before the Commissioner of Appeals [CIT(A)].

There are taxpayers who have filed an appeal before the CIT(A) against an intimation under section 143(1) and now wish to settle the same under the VsV Scheme.

In the online Form 1, at Part B – ‘Information Relating to Dispute’, there is a mandatory field titled, ‘Section under which order passed (there could be multiple sections for same assessment year)’. The said field of the functionality requires selection of the relevant section under which the order is passed (and the appeal is filed against) from a dropdown list of pre-specified sections. However, ‘section 143(1)’ is not listed under the said dropdown.

In absence of ‘section 143(1)’ in the dropdown, the taxpayers intending to settle the appeal filed against intimation under section 143(1) are unable to fill in the Form 1.

Can the Form 1 be amended to include Section 143(1) ot what is the way forward regarding this?

Sir,
Our case was pending with CIT-A. We have received Form 3, now we have to file Form 4 as per form 3 we have refund.
In form 4 there is a compulsory question to fill in details of Challan and withdrawal proof.
1)The question is if there is a refund than what shall be filed in Challan details and
2) what shall be proof of withdrawal to be attached?

Due to an error in Form 1 of VSV, instead of amount refundable to the assessee, the form shows amount payable by the assessee. Can the same be rectified by filing another Form 1 ? How many times the same can be refiled?Currently the status under VSV scheme is “Awaiting Form 3 from CIT”.
Please suggest.

In the facts of the given case, on the disputed issue (viz. Disallowance of Employees Contribution to PF & ESIC) in an earlier year viz.A.Y.2010-11, the Appeal of the assessee was allowed by the CIT(Appeals). Against the same, the Department went into appeal before the ITAT. The ITAT dismissed the appeal of the Department on the ground of low tax effect viz. monetary limits. In subsequent year viz. A.Y.2012-13, disallowance on the same issue was made by the A.O. The assessee has preferred an appeal before the CIT(Appeals) which was pending on the ‘specified date’. Now, the assessee wants to opt for the DTVSV Scheme. What would be the quantum of ‘disputed tax’ – 100% or 50% since, considering the fact that Appeal of the Department on ‘disputed issue’ was dismissed by ITAT (in view of 2nd Proviso to Section 3 of DTVSV Act)??

In case of search assessment u/s 143(3) passed earlier with addition made of Rs 20,00,000/-. appeal filed and pending. Subsequently their was search and the relevant assessment year also falls in the Block. Assessment U/s 153A/143(3) passed on the same addition of Rs 20,00,000/-. If we file for VSV what will be the tax rate applicable 100% or 125% on the above income which was earlier assessed U/.s 143(3) and same repeate again in 153A.

ITAT order received on 29/12/2019. We have not filed any appeal before high court yet.can we still go for vivad se vishwas scheme even though there is delay in filing appeal before high court.

VSVS query?

A sold land at 5 Cr, claimed 1 Cr expense on removing encroachment and Rs.1 cr transfer/improvement cost. AO disallowed 1 Cr expense but allowed 1 Cr improvement cost.

A challenged 1 Cr addition. citA allowed full relief in Apr 2020.

Later on CIT passed 263 directing AO to disallow Rs.1 cr cost of improvement. Order u/s 143(3) r.w.s 263 passed disallowing 1 cr improvement cost.

A challenged order 263 before ITAT and order u/s 143(3) res 263 before citA.

If A wish to avail VSVS then what ld be tax demand?
Will it be against addition of rs 1 cr or 2 Cr (1 cr allowed +1 Cr pending appeal)?

Ay is same. Two different appeal filed. Both were pending as on 31.01.2020.