Allowing the petition the Hon\u2019ble Court has held that in DTVSV Act, 2020, if there was a reduction or increase in income and tax liability of assessee as a result of rectification, disputed tax would be calculated after giving effect to said rectification order passed. Iuusance of revised form is held to be not sustainable. The\u00a0 rejection order is quashed. Respondents are directed\u00a0 to act in furtherance of the petitioner\u2019s declation by way of form 3 dated January\u00a0 18, 2021 in accordance with the clarification\u00a0 of\u00a0 the Act.. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
Direct Tax Vivad Se Vishwas Act, 2020<\/p>\n
S. 2(1) : Disputed tax-Rectification-As per clarification issued by CBDT if there was a reduction or increase in income and tax liability of assessee as a result of rectification, disputed tax would be calculated after giving effect to rectification order passed-Revised form 3 is held to be not justified. [S. 2(1)(j), ITAct, 154, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-42592","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-b4Y","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=42592"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42592\/revisions"}],"predecessor-version":[{"id":42593,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42592\/revisions\/42593"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=42592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=42592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=42592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}