AO made addition U/s 68 of Rs. 57 crore in various assessment year. CIT(A) confirm the same. Before ITAT appellant took a plea that loan taken in initial years were repaid in subsequent years and out of cash received on such repayment it has taken fresh loans/ share capital. AO made addition in both the years without giving benefit of telescoping. Once such benefit given the addition will reduce to Rs. 17 crore. ITAT set aside the matter to AO to grant benefit of telescoping after verification of nexus, which is pending as of date. Now assessee wants to opt for VSVS. Whether he has to consider Rs. 57 crore as addition or 17 crore and what will be rate of tax, whether 100% of tax or 50% of tax? Kindly suggest.

The Appellant filed his itr by the due date ,declaring gto and profits under sec 44ad, Ito didnot consider the itr, issued notice under sec 147, notice could not be served because of some postal issues, case was decided exparty, Appeal filed before the cit apppeals, alongwith Additional evidences, application for additional evidences considered, and remanded the matter to Ao, Ao sent the remand report and reduced the demand to 20%, rejoinder against the remaining 20% also filed before the CIt Appeals, Cit A transferred,
New Cit A Joined but matter is still not fixed, Though the case is very good on merits, still to purchase peace of mind, assessee wish to opt for VVS scheme, can it be filed on the basis copy of remand report, if we gv an application for early hearing to the cit A about our willingness to opt for the scheme, it may give a wrong message to the cit a and may pass the orders with the increased addition i.e.more than the addition confirmed in the remand report

CIT(A)-14 passed order on 29.11 .2019 for partly allowed of appeal. Appe al order received on 16.03.2020. Now assessee wants to file Form-1 of DTVSV (Viv ad Se Viswas). Assessee has not filed an y appeal before ITAT till now though sch eduled date of filing is 14.05.2020. Assessee filled Part-B of Form-1 without re ferring ITAT filing acknowledgement as n ot filed before ITAT till now. But filled the last due date of filing. But asses see is unable to fill data in Schedule-I V of Schedule-B of Form-1 as it is in hide mode. As per sec 2(I)(ii) of DTVSV Ac t,2020, assessee should have been allow ed to fileForm-1, though appeal has not been filed till now as scheduled date o f filing appeal before ITAT is 14.05.2020 and it is not over till now. Pleas e tell how I can fileForm1 of DTVSV Sailen Paul Mobile 9433090853

Completed case reopened by issuance of notice u/s.148 for non-inclusion of “X” Amount in Computation of Book Profit u/s.115JB. Assessment Order passed u/s.147 r.w.s. 143(3) on 03.12.2019 in respect of the same issue viz. inclusion of “X” Amount being Profit on sale of agricultural land for computation of Book Profit u/s.115JB. Against the said inclusion, Assessee filed an Appeal before the CIT(A) before the specified date viz. 31.01.2020. No Rectification Proceedings were initiated till the specified date viz. 31.01.2020. Rectification Order passed u/s.154 on 12.03.2020 enhancing the “X” Amount to “Y” Amount assigning the reason that “X” Amount was typographical error. If the assessee opts for VSVA, what would be the amount of “Tax Arrears”/”Disputed Tax”, the tax liability of X Amount or the tax liability determined after rectification u/s.154??

I would like to know the eligibility to fall into the case under eligibility for applying under Kar vivad scheme . If it is not falling then please suggest what steps I should take so that case become eligible to take the advantage under Kar vivad scheme . The fact of the case is as follows ;

(1). Assesment order for A. Y. 2010-11 is dated 21 St November , 2017 issued U/S144 r.w.s. 147 of the income tax Act 1961. Issued by AC from Pune addressing your a private Limited company at Ghatkoper the jurisdictional officer as per PAN number was at pune region .
(2) company has business activity in jammu so the main director carries on activity at Jammu . No body works at office at mumbai at Ghatkoper .
(3) assessment order is not received by the company at the office when it came by post at Gahatkoper office since it was closed but pastman delivered to the watchman of building and this fact was not known to the director of the company .
(4) nobody in the company could assess the company income tax web page since they were not knowing log in I’d pass word to assess their pan account income tax status since pan was applied by company CA and he is not in practise and not given back password to the company director .
(5) since there was a demand as per income tax assessment order nothing was paid and neither appeal is filed till today .
(6) A penalty order U/s 271(1)(c)and U/S. 271F has also been issued for A. Y. 2010-11 on 30 -5-2018 and penalty was levied , of course it was also without receiving any reply to penalty notice since all the notice not received by the company on the mail I’d since since mail I’d also not used by the company.
(7) penalty order also as usual delivered at Ghatkoper office since office was closed it was taken by building society’s watchman ( 8 ) As of today company came to know the liability of tax amount and penalty amount and now they would like to apply under Kar vivad scheme and pay the tax . But they have not filed an appeal till today .
I would like to know whether their case is eligible for applying under Kar vivad scheme if not due to not filing an appeal then can company approach the Assessing officer for officially receiving the Assessment order and after filing an appeal against the Assesment order then can file an application under Kar vivad scheme .

In AY 11-12 and 12-13 two additions were made by AO u/s 43(5) Rs. 3Cr and u/s 40(a)(ia) -Rs.50L. Both additions deleted by CIT(A). In Deptt. appeal the Tribunal vide order dated 18.01.2020 restored the issue to AO on 1st issue i.e. 43(5) and on 2nd issue confirmed the deletion u/s 40(a)(ia) of Rs.50L.
Deptt. has option to file appeal on 2nd issue but it is below tax effect.
What is the status of 2nd Issue
(a) VsV on 1st issue 100% of tax.
(b) on 2nd issue –
(1) No tax as issue already settled?
(2) 50% as Deptt has appeal option open?
(3) 100% as the entire addition is to be considered?
Thanks

WHETHER THE ASSESSMENT DONE U/SEC 143 (3) FOR THE YEAR OF SEARCH BE CALLED ‘SEARCH ASSESSMENT’ WHEREBY IT IS LIABLE FOR PAyment @125% of the tax ?

The Assessment order issued by the ITO under section 143 w.r.to section 147 with a demand of Rs. 8 lakhs .disallowing as 100% on bogus purchases. The assessee filed appeal with CIT (A). and got relief and hence got relief on disallowance up to 33% and tax demand determined to say, Rs. 8 lakhs. The application for giving effect of the Appellate Order filed, but the not given by the ITO. The department went on appeal at ITAT , as on date, pending.
Further the ITO issued the Penalty order under 271 (1) (‘c) , 100% tax amount , by considering the tax demand as per Appellate Order.

Issues :
1. Will appellate order merge with original order, irrespective of the departmemtal appeal ?
2. What will be the disputed tax amount ? Rs. 8 lakhs or Rs. 3 lakhs
3. Once disputed tax settled under the scheme, the Penalty order get no room to stand , is it correct?

An assessee has preferred appeals against additions made under Section 153A. The assessments were made in March, 2015. The assessee subsequently has made payments under Tax on Regular assessments on various dates for ( 6 +1 ) assessment years. Now the assessee decides to opt for VSV. For some of the assessment years, the assessee has made excess payments than the amount payable under VSV. For some of the assessments years, the assessee has to pay the balance amount. Is there any provision that excess payments made for some years can be adjusted against the liability? The AO is of the opinion that since Form 3 is separately given for each assessment year, adjustment of excess payments of one year against the liability of another year is not possible. If that being the legal position, in the instant case the assessee is subjected to enormous financial strain. It is requested that the Panel throws more light on this.

Assessee has filed application with CCIT for compounding of offences u/s 276B /276BB. Are these application covered in VSV scheme