Addition of Rs. 15 lakhs were made vide order u/s. 143(3) dt. 03-03-2014 in case of Pvt. Ltd. Co. The Hon’ble CIT(A) has deleted addition of Rs. 3 Lakhs and Hon’ble ITAT has further deleted addition of Rs. 2 Lakhs. The company has not filed further appeal against remaining quantum of Rs. 10 lakhs and paid the taxes.
Meanwhile AO has levied penalty on addition of Rs. 15 lakhs vide order u/s. 271(1)(c) Dt. 23-03-2017. The company filed an appeal against order u/s. 271(1)(c) before Hon’ble CIT(A) on 25-04-2017. The appeal is still pending before Hon’ble CIT(A).
The company after receipt of order of the Hon’ble ITAT in quantum appeal has requested AO to rectify quantum subjected to penalty from Rs. 15 lakhs to Rs. 10 Lakhs.
The company want to opt for Vivad Se Vishwas Scheme
Whether the company has to pay 25% of penalty on Rs. 15 lakhs or Rs. 10 Lakhs?