Re: VSV refund adjustment against Income-tax demand

I have a refund of 1 crore as per VSV in AY 2010-11 and demand of 2 crores under IT Act in AY 2011-12. If I go under VSV only for AY 2010-11, will I get cash refund of 1 crore or it will be completely adjusted against demand of AY 2011-12?
Provide basis for your answer if you have any. As per my understanding, they cannot adjust because both are separate Acts.

The Direct Tax Vivad Se Vishwas Act, 2020 is code by itself . Section 245 , of the Income -tax Act , 1961  which deals with Set off of refunds against tax remaining payable under certain circumstances is not applicable to VVS Act .Accordingly the revenue cannot adjust the demand of AY. 2011-12 .In case the revenue adjust the  demand the assesssee may have to file writ before High Court .  

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