Re: VIVAD SE VISHWAS SCHEME

IF I AM GOING TO SCHEME UNDER VIVAD SE VISHWAS FOR ORDER U/S. 143(3) THEN PENALTY LEVIED BY THE DEPARTMENT U/S. 271(1)(C) WILL BE DROPPED OR NOT ?

Please, refer No 34 Q Appeals against  assessment  order and against penalty  order are filed  separately  on the same issue   Hence  there are separate appeals for both .  In such case , How disputed  tax  to  be calculated?    Answer:   Please  see question no 8  . Further, it is clarified that if the appellant has both appeal against assessment order and appeal against penalty relating to same assessment pending for the same assessment year, and he wishes to settle  the appeal against assessment order (with penalty appeal automatically covered), he is required to indicate both appeals in one declaration form (Form  No I)   .

 

Reading the  answer to Q no 8 ,and  34 together once the quantum appeal is settled , penalty and interest will be automatically waived . If not levied it will be waived .

As per Section  6 of the Direct Tax Vivad Se Vishwas Act , 2020 ,  no penalty shall be initiated in respect of tax arrear  which is determined  and paid as per Section 2 (o) of the Act

 

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