Where a declarant exercises the option in Form 1 of carrying forward the reduced loss ( arrived at after the addition made by the A.O. in the assessment order), the certificate to be issued by the designated authority ( Form 3) and the order to be passed by the designated authority ( Form 5) does not prescribe an appropriate wording permitting the declarant to carry forward the reduced loss to subsequent years. In the absence of an appropriate wording how is a declarant protected that in future the assessing officer does not deny the benefit of carry forward of the reduced amount of loss.

Before asking the question, let me thank all the expert here as You all are doing great job.

My questions are as under:

1) one of the condition for exclusion as per section 9(a)(iii) is “relating to any undisclosed income from a source located outside
India or undisclosed asset located outside India”

Now if a private limited company has received share capital from a party based in country out side India. Such share capital has been added u/s 68 of the Act as income of the assessee vide order passed u/s 143(3). Can department say that such share capital is undisclosed income of the assessee from the country outside India; hence, not eligible for the VSV scheme.

2) For exclusion from the sheme there are two instances given for prosecution “instituted” and prosecution “Initiated” which are reproduced below:

Section 9(a)(ii): “relating to an assessment year in respect of which prosecution has
been instituted on or before the date of filing of declaration;”

Section 9(d): (d) to any person in respect of whom prosecution has been initiated by an
Income-tax authority for any offence punishable under the provisions of the Indian
Penal Code or for the purpose of enforcement of any civil liability under any law for the
time being in force, on or before the filing of the declaration or such person has been convicted of any such offence consequent to the prosecution initiated by an Incometax authority;”

How to interpret both these clauses harmoniously, Kindly enlighten us.

Thank You So much

In our case, CIT(A) passed order on 29/1/20 giving partial releif. Assessee didn’t filed appeal to ITAT yet due to announcement of VSVS in Budget. Now assessee is covered by the scheme. In Form-1, Schedule IV is applicable but its not being enabled as we are filling that appeal to ITAT is not filed yet. Please advise

I was submitted my appeal with CIT for two separate addition made by AO. CIT(A) delivered the decision on 08.02.2020 by deleting only one addition. Since Appeal effect is low so department will not go into ITAT while I can since I have time for that.

My first query is that whether I can go into VSVS scheme only for the ground which CIT (A) not given the relief or has to go for both addition made by Ao means for that ground too which CIT(A) allowed.

Second query is that whther I have to fill appeal with ITAT first to go under vsvs scheme or can submit application for VSVS without filling appeal with ITAT.

The appeal filed by the assessee was decided against him but assessee filed a misc application u/s 254 before ITAT which is yet pending for hearing. van he opt for the scheme vsvs-2020

My client was required to file appeal in Feburary,2016 but appeal was filed in Feb.,2018 whether the same will be considered in the Vivad Se Vishwas Scheme if the client is willing to settle the dispute

Resp sir
all cases of penny shares be liable full tax as per AO. Why any concession even if allowed by CIT(A) /Tribunal if Department appeal is pending; since all penny cases are bogus known to all-even limit of withdrawal of appeal not apply by CBDT circulars

1. Whether on applying for the scheme for the quantum appeal pending before ITAT, whether penalty stands deleted / waived even if the penalty order is passed and a separate appeal is pending before any appellate forum. This is in light of the the language of s. 6 of the scheme –
_6. Subject to the provisions of section 5, the designated authority shall not institute any proceeding in respect of an offence; or impose or levy any penalty; or charge any interest under the Income-tax Act in respect of tax arrear.

2. Whether the delayed appeal which has not been condoned so far can be considered for Scheme

3. Whether for considering the disputed tax, the additional grounds with respect to the income should be considered for calculating disputed tax?

4. In case where matter is argued before ITAT and the order is awaited as on 31.01.20, can the assessee opt to go for the scheme. If yes, whether the amount of tax payable will be after giving effect to such ITAT order or before ?

Assessing officer had made 5 additions , all are pending in CIT (appeal) .
Can the appellant choose to offer only 2 additions under Vivad Se Vishwas scheme .

I submitted my appeal with CIT(A) for two different addition made by AO. CIT (A) has delivered decision on 25.01.2020 by allowing one ground of my appeal.

Now I can go to file second appeal with ITAT for delete addition allowed by CIT(A). appeal revenue effect for deleted addition is below prescribed limit for which department wouldn’t go for file appeal with ITAT.

My query is that whether I can go into scheme for only for second ground which not decided by CIT in my favour or has to go for both grounds in spite of the fact that such addition has been deleted by CIT(A).