If Addition made by AO u/s 50C and Sec 56(2)(X) without referring to DVO and made addition . Aggrieved by Addition Assessee filed Appeal before CIT Appeal . Now Assessee want to go in Vivad se Vishwas scheme , then want will Purchase Cost of immovable property as mention above after opting under VSV scheme .

Means , At the time of Sale of property, Purchase cost of property should have take Sec 50C value on which I pay tax under the scheme or original purchase cost for which I have bought the property ..?? ( Simple meaning Will Assessee be allowed to increase the Purchase cost to Sec 50C value if the pay tax under the Scheme )

In case first appeal which required to be filed with i thirty days from the date of Assessment order received. but it has been filed late say after 31/01/2020, my question is whether he can move an application under vivs scheme.

An assessee filed his declaration under Vivad se Vishwas on 21.03.2020 and also paid due tax before filing declaration. The CIT had to issue form 3 within 15 days as per section 5(1) but even after lapse of 20 days Form 3 has not been issued. What will be the fate of declaration ? Will it be deemed to have been rejected for no fault of the assessee ? Will it be deemed to never have been filed ? Will it be deemed to have been accepted ? Kindly guide. Thanks

Penalty order issued and served upon the assessee on 31.1.2020. Whether the assessee can opt for Vivad se Vishwas scheme ? The disputed penalty is defined in the act does not include cases where time to file appeal is not expired whereas disputed tax includes such cases as per the definition given in the act. Kindly guide. Thanks

Before the introduction of S.153A ,the search assessment was made u/s158 BC of the Act.The tax leviable on the undisclosed income was at60% . There are many cases pending in dispute on such BLOCK ASSESSMENT.
There is a clear discremination under the VSV sheme as the tax rate under the new regime is 305 plus 25% of tax as penalty or 50% thereof if Department is the litigant.
While the search cases are the same under the scheme the assessment falling under the old regime are treated harshly as against assessment under the new regime.
This discrimination should be removed by bringing the assessment under the old scheme on par with assement under the new regime by requiring payment of tax and the related penalty at the same rate to encourage assessees to avail the scheme,

As per 2nd Proviso to Section 3 of VSVA “Provided further that in a case where an appeal is filed before the Commissioner (Appeals) or objections is filed before the Dispute Resolution Panel by the appellant on any issue on which he has already got a decision in his favour from the Income Tax Appellate Tribunal (where the decision on such issue is not reversed by the High Court or the Supreme Court) or the High Court (where the decision on such issue is not reversed by the Supreme Court), the amount payable shall be one-half of the amount in the Table above calculated on such issue, in such manner as may be prescribed”
The assessee is not given shelter of a Supreme Court judgement or jurisdictional High Court judgement, which is not of the assessee but having identical facts. Please provide further clarity.

1. The assessee is before CIT(A) against certain additions U/s. 68 say 10 Lakhs as on 31.01.2020.
There is a mistake in calculating 10 Lakhs ; hence petition U/s. 154 is filed and the same is pending today.
Now the AO rectify the mistake and the addition is restricted to 6 Lakhs only.
The assessee will file Declaration under VsVS for 6 Lakhs ?

2. The appeal is pending before CIT(A) as on 31.01.2020 against
2 following additions say
First Addition 3 Lakhs
Second Addition 5 Lakhs.
THE CIT(A) passes appellate order now deleting addition of Rs.5 Lakhs.
The declaration are to be filed for 3 Lakhs only ?

3. There is an addition of Rs.5 Lakhs U/s. 69 for the A Year 2013-14 and set off of losses are not allowed.
Assessee has filed petition U/s. 154 as per the Board Circular that such set off is allowable upto A Y 2016-17.
Now the rectificatory order is passed U/s. 154 allowing set-off of losses and cancelling the demand but penalty proceedings are pending. Hence, assessee can file declaration under VsVS for set off of losses so that the issue is settled.
4. The AO has given appeal effect U/s. 251/254 for the issues deleted by the appellate authorities but no effect is given for the issues setaside for verification. Assessee has filed petition u/s. 154 and the same is pending. Can assessee file declaration under VsVS accepting the additions pending for adjudication.
Thanking you
CA Shyam Poddar
9437052422/9583052422

O is a company and subsidiary of PSU It is implementing a project and recently started production. It claimed the amortisation of lease premium over he lease period on time basis amounting to about 20 crores pertaining to current AY 2017-18. The AO disallowed the claim and the loss is reduced in assessment. Penalty proceedings are initiated for mis-statement/ understatement of income. The company is in appeal before CIT(A).
Now the revenue authorities are pressurising the co to make a declaration under the scheme and pay tax and penalty as provided under the scheme. The appeal is pending before the CIT(A).
Should the co opt for the scheme? I strongly feel that the company has good chance of success in appeal. Your considered opinion is sought.

As per FM press conference on 24.03.2020 read with The Taxation And Other Laws (Relaxation of Certain Provisions) Ordinance,2020 (No. 2 of 2020) with regard to Vivad Se Vishwas, no additional 10% if disputed tax is paid by 30.06.2020. But Form No 3 has not been amended that still contains that tax is to be paid within fifteen days. This Form ought to be amended in as much as within 15 days or by 30.06.2020 which expires later. In the absence of such amendment in Form 3, nobody would like to upload Form 1 and Form 2 before 15.06.2020. Kindly clarify, whether my interpretation is correct.

while filling the form, any column which is not applicable, if, 0 or NIL is filled, error pops up and hence not allowing to file the Form.