Re: Settlement commission

The assessee has filed a petition before the Settlement commission, which is pending for admission as on 31st January, 2020, can the assessee avail the benefit of the Scheme?

As per Section 2 (1) b) of the VSVA “appellate forum” means the Supreme Court or the High Court or the Income Tax Appellate Tribunal or the Commissioner (Appeals), Settlement Commission is not covered. 

As per Section 2(1) v) of the VSVA, a person who has filed an application for revision under section 264 of the Income-tax Act and such application is pending as on the specified date is included.  The settlement commission is not included  hence , the assessee cannot avail the benefit.

AIFTP had made a representation to the CBDT to clarify the issue. Reading the VSVA, it is clear that the proceedings pending before Settlement Commission is not covered.  

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