{"id":18244,"date":"2021-05-15T19:30:36","date_gmt":"2021-05-15T14:00:36","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=18244"},"modified":"2021-05-16T15:44:34","modified_gmt":"2021-05-16T10:14:34","slug":"arbitrarily-rejection-of-form-1-filed-under-dtvsv-act-2020","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/arbitrarily-rejection-of-form-1-filed-under-dtvsv-act-2020\/","title":{"rendered":"Whether arbitrary Rejection of Form No &#8211; 1 filed under DTVSV Act, 2020 is justified ? , What is the remedy ?"},"content":{"rendered":"<p>Company filed the Form-1 with declaration <strong>on 25-12-2020<\/strong> without payment of tax on reduction of losses or depreciation <strong>as per Rule 9 (1) (ii) of the<\/strong> <strong>DTVSV Act, 2020 <\/strong>with option\u00a0to carry forward the reduced amount of loss or unabsorbed depreciation as per the provisions of said Act. Company received <strong>a notice dated 30-03-2021 {practically after 3 months and that too on last date of VSV Scheme} from<\/strong> Ld. Income Tax Authorities mentioning therein the figures of \u201cUnabsorbed Losses\u201d and \u201cUnabsorbed Depreciations\u201d as computed by them with direction to the Company to \u00a0revise the \u00a0figures of Form-1 as per their \u00a0computation and file the same by 31-03-2021 [ <strong>last date of filing VSV Forms<\/strong> ]. <\/p>\n<p><strong>In compliance of said notice dated 30-03-2021 Company revised the figures of Form-1 and filed the revised Form-1.<\/strong> Besides, Company also furnished its unconditional consent to agree with the figures of Ld. Designated Authority as mentioned in the notice dated 30-03-2021 through email dated 31-03-2021 as well as subsequent e- response dated 09-04-2021 through e-proceeding portal. <b>However, despite the consent of the Company as above, Ld. Designated Authority arbitrarily rejected the revised VSV Forms of the Corporation on 15-04-2021<\/b> { <strong>within 15 days of filing revised form -1<\/strong> } <strong>without giving any reasonable opportunity<\/strong> <strong>with a vague and unjustified reason that revised VSV declaration Forms are still defective<\/strong>.<\/p>\n<p>What legal course of actions are available to Company as Rejection order is not appealable?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[89,97],"class_list":["post-18244","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-dtvsv-act-2020","qa_tag-vivad-se-vishawas-scheme"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/18244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=18244"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=18244"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=18244"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=18244"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=18244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}