Re: Query on FAQ 70 Deemed Search Case

Assessee was assessed u/s 147 read with 143(2) and opted for Scheme, but DA issued Form 3 under terms of FAQ 70 by referring the assessment as search case.. is there any development on the cause???

According to us  the interpretation of the CBDT is not in accordance with provision of the VSV  Act.  A Writ petition is filed before the Bombay High Court in Sushil  Bhatia HUF v .PCIT ( WPNO. (L) (No. 4666of 2021 dt 23 -2 -2021  . Before the Bombay High Court Delhi High Court order in Ashsih Saraf v .PCIT dt 15 -2 -2021 was relied . The matter  is adjourned to 17 -3 -2021 .  We hope the Court may decide on 17 -3 -2021 .   Similar petitions are filed before the Delhi High Court In Prime India Pvt Ltd v .PCIT and ors WP NO. 2579/   2021 the interim order was passed on 25 -2 -2021 , the matters are kept for hearing on 4 -5 -2021 .

The assessee may file writ before the High Court .

 

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