Re: Vsv scheme and hawala
The ao added back to our income transactions they considered as hawala. They then deducted the full tax and penalty and interest there on against a refund we had owing to us.
We appealed against the hawala decision. Matter has not been heard as of date.
How do we deal with this matter under the vsv scheme. Thanks
Assessee can file the declaration ,however the assessee has to pay the tax in dispute . If the tax is paid , there will not be interest and penalty , the assessee will get the refund of the interest and penalty .
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