My revision petition u\/s 264 is pending as on 31.1.2020 against the assessment order passed by the assessing officer u\/s 147\/143(3). Though returned income has been accepted by the assessing officer and while framing assessment yet revision petition has been filed against wrong declaration of long term capital gain in the return due to the mistake of tax professional as the asset sold was not capital asset and even 50% of the total sale consideration belong to assessee. After framing assessment penalties u\/s 271(1)(c) and 140A(3) (for not payment of self assessment tax) have also been imposed by the A.O. Separate appeals are pending against penalty orders. My revision petition is still pending. Kindly guide whether my case is eligible for declaration under Vivad Se Vishwas Scheme. Please also guide any other remedy. Since VSV scheme is closing on 28.2.21, an urgent reply is requested please.<\/p>\n","protected":false},"excerpt":{"rendered":"
My revision petition u\/s 264 is pending as on 31.1.2020 against the assessment order passed by the assessing officer u\/s 147\/143(3). Though returned income has been accepted by the assessing officer and while framing assessment yet revision petition has been filed against wrong declaration of long term capital gain in the return due to the mistake of tax professional as the asset sold was not capital asset and even 50% of the total sale consideration belong to assessee. After framing assessment penalties u\/s 271(1)(c) and 140A(3) (for not payment of self assessment tax) have also been imposed by the A.O. Separate appeals are pending against penalty orders. My revision petition is still pending. Kindly guide whether my case is eligible for declaration under Vivad Se Vishwas Scheme. Please also guide any other remedy. Since VSV scheme is closing on 28.2.21, an urgent reply is requested please.<\/p>\n