Re: VIVAD SE BISWAS AND FORM NO 5
I went for VIVAD SE BISWAS SCHEME for my long lasting appeal before CIT(A) AND got Certificate no.5 after paying demanded tax set BY THE HONOURABLE PRINCIPAL CIT.I WITHDRAW MY APPEAL AND ALSO GOT ORDER U/S 250.MY QUERY: IS DEMAND AGAINST ME IS OVER OR I HAVE TO PAY FINE AND PENALTY?
THANKS IN ADVANCE DIR.
Interest and penalty will be waived . Section 6 of The Direct Tax Vivad Se Vishwas Act , 2000 grants immunity from penalty as well as interest. If penalty is initiated the same will be dropped . It is the duty of the Assesssing Officer to pass the consequential order .
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