Re: APPLICABILITY OF VsV SCHEME WHERE TRIBUNAL HAS PASSED ORDER AFTER 31/01/2020
IN A CASE WHERE TRIBUNAL HAS PASSED AN ORDER AFTER 31/01/2020 CONFIRMING LEVY OF PENALTY UNDER SECTION 271B OF THE ACT, AND TIME FOR FILING APPEAL BEFORE THE HIGH COURT HAS NOT YET EXPIRED, CAN THE ASSESSEE AVAIL THE BENEFIT OF VsV SCHEME.
THANKS
As per the scheme , there has to be pendency of appeal as on 31 –1 2020 , then only one can avail the benefit of the scheme . On the facts it is difficult to avail the benefit of the scheme. One may consider , filing an Miscellaneous application . In case the Tribunal allows the miscellaneous application of the assessee and appeal is restored it relates back the date of filing of appeal . In such circumstances the assessee may avail the benefit of the VVS .
In my humble opinion, as the appeal was pending before ITAT as on 31.01.2020(specified date) the assessee is eligible to file application under VSVS, irrespective of the fact that the appeal has been decided by ITAT after this date and irrespective of the fact the appeal to High Court is filed or not.
The conditions to be qualified under the Act, is only that the appeal must be pending on specified date/perido of appeal should not be expired. In my humber opinion, there is no requirement that appeal should be pending at the time of filng forms for VSV. A case decided agaisnt the assessee would also qualify, as the Act is absent on the issues