Re: Can a Form 3 issued by the DA be revised by DA

In my case after issue of Form 3 on 14/12/20 a communication has been received giving a revised Form 3 increasing the Tax payable quoting a Circular by CDBT dated 4/12/20. My case while it was of Assesment under Sec 143 as also informed in Form 1 submitted by me is now being treated as a Search case due to some guidelines in the captioned circular. Sec 5(3) of the VsV scheme clearly stipulates the the Form e once issued is conclusive and can not be reopened in any subsequent proceeding under the OT Act.

On the facts it seems that the assessee has not paid the tax as demanded by the Designated Authority, and before the payment of the tax in dispute revised intimation is sent by the Designated Authority based on the interpretation of  given by the CBDT  Circular No 21  dt 4 -12- 2020   question No .70 and answer  given by the CBDT .   The only alternative with the assesseee is file Writ before the High Court , challenging the interpretation  given by the High Court .   Section 5 (3) will be  applicable only  after  the payment of the disputed tax and issue of certificate by the Designated Authority .      

 

 

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