Re: Evidence to claim deduction u/s 54

Sir, I forgot to get claim of section 54 in relation to one of my property,due to document misplace(uncontrollable circumstances),deductable amount is Rs. 45,00,000.00, so can I get the deduction same in vivad se Vishwas scheme

Vsv Scheme  is  not an amnesty scheme . By  filing the declaration under the  Scheme , the assessee cannot  get the benefit . It may be  desirable to file an application under section  264 of the Act  , or file rectification  before the Assessing Officer .    As per   Article. 265 of the Constitution of India  which provides that “No tax shall be levied or collected except by authority of law“. The collection of tax has to be also within the frame work of law. The Circular No. 14 (XL-35), dt. 11/04/1955, also states that a duty is cast upon the Assessing Officer  to assist and aid the assessee in the matter of taxation. Assessing Officers  are supposed to advise the assessee and guide them and not  take advantage of any error or mistake committed by the assessee or of their ignorance. The function of the Assessing officer  is to administer the statute with solicitude for public exchequer with an inbuilt idea of fairness to taxpayers. The scope of the above circular is explained in CIT v. Ahmedabad  Keiser-E. Hind Mills Co. Ltd  (1981)  128 ITR 486 (Guj.) (HC) (492), Parekh Bros v. CIT (1984) 150 ITR 105 (Ker) (HC) (118 ),  Dattatraya Gopal Sathe v. CIT (1984) 150 ITR 460 (Bom.)(HC) (463-464)

In Raghavan Nair  v. ACIT (2018) 402 ITR 400(Ker.)(HC),Capital gains wrongly shown in the return as taxable. Duty of Assessing Officer to refrain from assessing such income. No tax shall be levied or collected except by authority of law.

  

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