Re: Assessment order u/s 147 rws 144 and penalty order u/s 271(1)(c). Liability under VSVS?

Assessment order u/s 147 read with sec. 144 passed and later on Ex-parte order u/s 271(1)(C) also passed by the same AO in the same case. The appeals against both the orders are pending with CIT (A). What will be the liability under VSVS? only Tax amount or Tax + 25% of penalty..?

Only on tax in dispute . One the quantum  appeal will be settled , the interest and penalty will be waived . Please refer Circular No. 9 dt 22-4 -2020 ,  Q. No 34 and Ans  , once the quantum appeal is settled  the penalty is automatically covered  , the assesssee is required to indicate both appeals in declaration form ( Form No 1 ) for that year 

 

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