The Assessee challenged the Order of the High Court u/s 260A for A.Y 1992-93 by filing an SLP in the Supreme Court in October 2012 on grounds of allowability of expense of non compete fee paid.
The A.O Assessed the Tax of the Assessee as per Order u/s 260A in 2014 at Rs. 36,71,004
The Order of the A.O was challenged by the Assessee in a second round of appeals on grounds of quantum of non-compete Fee in the CIT(A) and subsequently the ITAT. Post the Order of the ITAT allowed a relief of 4,14,571 in 2019, The A.O reassessed the Income of the Assessee by considering a lower quantum of non compete fee. Basis the Reassessment, partial amount was refunded to the Assessee. However, the SLP filed in the SC is still pending regarding allowability of Non Compete Fee. The Assessee intends to file an application in the DTVSV Scheme regarding the pending SLP.

Q1. In Part B of Form-1 of VSV Scheme what should be the Date of Order by which Tax Arrear is determined. Should it be the Assessment made after Order for computation of Income by A.O made u/s 260A in 2014 of Order of Reassessment for computation of Income by A.O made u/s 254 in 2019.

Q2. In Part C of Form 1 of VSV Scheme, where should the Assessee mention details regarding partial amount of refund made by the Income Tax Department post reassessment in 2019.

Sir

We have filed return of income for AY 2013-14 showing Loss as per Normal income and also Book loss per 115JB of the Act.

In the order passed u/s 143(3 ) certain expenses claimed as revenue expenditure was disallowed and resulting Loss claimed was reduced.

we have filed appeal to CIT (A) which was not disposed off till 31.01.2020.

We taken full set off of all carried forward loss and also loss claimed in AY 2013-14 in AY 2016-2017. However, we have incurred further loss in AY.2017-18….till 2019-20.

Now we want to avail VSVS .

QUERY

1) are we eligible to avail VSVS.

2) We are opting for reduction in carried forward Loss instead of paying Tax….so whether we have to pay tax in AY 2016 -17 where we have set off all carried loss or we have to simply reduced amount from carried forward loss as on date.

3) In form whether we have to fill Schedule D only or any other schedule ?

pls share your valuable view for the same.

An assessee has incurrent substatial loss in the business operations while framing the assessment loss has been reduced inrespect of amount of server storage charges remitted to USA entity alleging failure to deduct withholding tax for the remittance US firm. The appel has been filed before CIT and te same is pending since 01.10.2019. There was no order for penalty for non deduction of withholding tax as on date hence no appeal has been preferred. The issue is whether in case the assessee opts for settlement under Viwad se viswas scheme whether withholding tax for server storage has to be remitted to the departmnet. Will the same be insisted for giving effect to the scheme

A ltd issued FCCB and they were redeemed at premium, which is treated as interest payable as per section 115AC and on same TDS is to be deducted. Company utilised premium in India and outside India. TDS was deducted on premium utilised in India and on other it was not deducted. For the purpose of VSV what shall be disputed tax? and how computation is to be done?

An appeal was filed belatedly on 27.02.2019 with an application for condonation of delay to ITAT (A). The ITAT fixed hearing on 04.03.2020 notice whereof was not received by the appellant but the ITAT decided not to condon delay and ordered that the appeal is not maintainable. The assessee wishes to apply for Vivad se Vshwas. Is he eligible for the same? Kindly enlighten. Thanks

An assessment order for AY 2013-14 was passed u/s 148 read with section 144 on 25.12.2018 and served on the assesee on 31.12.2018. The appeal was filed belatedly on 27.02.2019 with an application for condonation of delay to CIT (A). The CIT(A) has not yet heard the appeal nor disposed off the application for condonation of delay.The assessee wishes to apply for Vivad se Vshwas. Is he eligible for the same? Kindly enlighten. Thanks

Dear Sir,

ITAT passed the order on 25.03.2019 confirming the addition which was received on 03.05.2019. Against order of the ITAT, MA u/s 254(2) was submitted on 02.12.2019 fixing the case on 14.02.2020. On 03.02.2020, the counsel of the assessee submitted an application that he will be out of station, hence cannot attend on 14.02.2020. As the MA was pending as on 31.01.2020, whether the case is covered under Vivad Se Vishwas Scheme. Please note that 30.11.2019 was saturday and 01.12.20119 was sunday.

Dear Sir,

ITAT passed the order on 25.03.2019 confirming the addition which was received on 03.05.2019. Against order of the ITAT, MA u/s 254(2) was submitted on 02.12.2019 fixing the case on 14.02.2020. On 03.02.2020, the counsel of the assessee submitted an application that he will be out of station, hence cannot attend on 14.02.2020. As the MA was pending as on 31.01.2020, whether the case is covered under Vivad Se Vishwas Scheme.

Appeal before CIT is dismissed in the month of Aug 2020. Can we file VSVS thereafter and is it vaild..?

Sir, We got a demand notice for payment under VIVAD SE BISWAS SCHEME.In form 3 there is a declaration that the Tax is to be paid within 15 days from the receipt of the FORM otherwise the form/certificate would be void. . Meanwhile we come to know that the date is extended to 31.12.2020.CAN WE PAY THE THE TAX AFTER THE DAYS MENTIONED IN THE FORM OR IT WOULD BE VOID?

THANK U SIR