Company filed the ITR and paid tax on exempted Income also. During assessment the same is put under consideration for Assessing officer. But Order u\/s 143 (3) order return income as assessed income with no addition but refund for tax paid on exempt income not given as exempt income is already included in return income.
\nCompany filed an appeal before CIT(a) which was pending. Hence company opted for VSV scheme and filed form 1 and 2 as tax was already paid in excess on exempted income so company treat that as disputed income and ask for waiver of interest paid. BUT DCIT rejected as they said they only consider returned and assessed income in consideration and there is no disconnect so they cant treat this case for vsv and rejected the same for any relief we have to continue for appeal against CIT (A).<\/p>\n
Is he is correct on doing so? Tax paid by us in excess and AO didn’t consider our point for relief. Is CIT (A) is the best route?<\/p>\n","protected":false},"excerpt":{"rendered":"
Company filed the ITR and paid tax on exempted Income also. During assessment the same is put under consideration for Assessing officer. But Order u\/s 143 (3) order return income as assessed income with no addition but refund for tax paid on exempt income not given as exempt income is already included in return income. Company filed an appeal before CIT(a) which was pending. Hence company opted for VSV scheme and filed form 1 and 2 as tax was already paid in excess on exempted income so company treat that as disputed income and ask for waiver of interest paid. BUT DCIT rejected as they said they only consider returned and assessed income in consideration and there is no disconnect so they cant treat this case for vsv and rejected the same for any relief we have to continue for appeal against CIT (A). Is he is correct on doing so? Tax paid by us in excess and AO didn’t consider our point for relief. Is CIT (A) is the best route?<\/p>\n