The ITAT held an All India Video Conferencing of its Members on the topic ‘The Direct Tax Vivad Se Vishwas Act, 2020’ on 6th April 2020.
The session was presided over by Mr. Justice P.P. Bhatt, President, ITAT. Shri Pramod Chandra Mody, Chairman, CBDT was the chief guest. The other guest faculty included Shri Kamlesh Chandra Varshney and Shri Rajesh Kumar Bhoot, Joint Secretaries in the Ministry of Finance.
(Screenshot of (L-R) Justice P. P. Bhatt, Vice President G. S. Pannu and CBDT Chairman P. C. Mody participating in the video conference)
We have requested a panel of experts to assist taxpayers and professionals on questions relating to the Vivad Se Vishwas Scheme. The panel comprises of Dr. K. Shivaram, Senior Advocate, CA Rajan Vora and CA Pradeep Kapasi. If you have a query, please use the form to ask it. We will request the panel to provide an answer as soon as possible.
Representatives of the major Tax Bar Associations from all over India also attended the session.
On behalf of the ITAT Bar Association, Mumbai, Advocate Shri Hiro Rai, President of the Association and Dr. K. Shivaram, Sr Advocate, participated in the discussion.
President Shri Hiro Rai made various valuable suggestions for better implementation of the Scheme.
Justice P.P. Bhatt emphasized the need of stakeholders’ participation in
the Alternative Dispute Resolution Mechanism and explained the keen interest being evinced by the Central Government to create a dispute-free tax collection system.
He stated that as an institution specialising in adjudication of tax disputes, ITAT expected all the stakeholders to consider availing the Scheme which was intended to reduce the pending litigation, enable timely recovery of taxes by the Government and sparing the taxpayers’ time, resources and energy from litigation.
He urged the stakeholders, more particularly, the tax practitioners to take the task further in a mission mode, so that the system that is choked with the avoidable litigation could be relieved for concentrating on more meritorious issues, which have a bearing on the tax policies affecting the taxpayers on a large scale.
He observed that the success of the technical session lies in carrying home the message by the representatives of the Bar Associations for further discussion with the members in their respective Associations and in carrying forward the objectives of the scheme to its logical conclusion.
Mr. P.C. Mody, Chairman, CBDT, explained the objective behind the scheme and the role of the stakeholders in making it a grand success. He explained to the audience that the Government as well as the Board have undertaken a massive exercise of considering the suggestions from every corner, for proposing suitable amendments to the Act and also clarifying the doubts by way of answers to the frequently asked questions.
He said that no scheme could be conceived with all the perfections, so also could be this scheme, and therefore, he assured that the Government and the Board are open for suggestions and comments from every stakeholder for better implementation of the scheme in its letter and spirit.
Order imposing penalty was issued and served upon the assessee on 31.1.2020. whether such penalty is covered under Vivad se Vishwas scheme. Disputed tax includes cases where the time limit for filing appeal is not expired on 31.1.2020 but disputed penalty does not have any such case. Please guide. Thanks
The assessee filed declaration under Vivad se Vishwas on 21.03.2020 but Form 3 has not been issued by the CIT so far even after lapse of 20 days. Form 3 was to be issued within 15 days as per section 5(1). What will be the fate of declaration filed ? Will it be deemed never to have been filed ? Will it be deemed to have been rejected ? Will CIT issue Form 3 later ? Kindly guide. Thanks
Suppose a person who is required to file first appeal on or before 31/01/2020. But due to some delay first appeal was filed late. whether can he take the advantage of this scheme.
In many cases Writs were filed challenging the validity of certain provisions of the I T Act’61. For example, a No of Write were filed challenging the levy of Fringe Benefit Tax ( during the period from 2006 to 2009 ). The cases are still pending before various courts across the country. In all such cases, No demands could be raised due to interim orders passed by courts. However, the Fringe benefit tax payable can easily be calculated based on TAR, Audited Accounts etc filed along with the ROI. Since the cases with regard to disputed fringe benefit tax were pending on 31-1-20, the same is eligible for the KVS Scheme. A Clarification in this regard by the Board would help the assessees to settle the long disputed cases relating to FBT by opting for the Scheme . The Govt would also collect huge amount of disputed Fringe Benefit Tax.
There are appeals, results of which can swing to either side. It is advisable to reduce rate of tax on the disputed additions. There are other appeal cases with difference of opinion on the similar issue in different High Courts. If incidence of tax is reduced in disputed matters, just on the same pattern in penalty cases, response shall be enormous and scheme will succeed in achieving the desired results.
In many cases assessing officers have applied tax rate under section 115 BBE without applying proper mind and giving reasons for doing so. I am sure many appeals are in respect of this issue for AY 2017-18. If the same are accepted at normal rates, it will be a great in serving this V se V scheme
In my opinion partial settlement of dispute in Vivad se Vishwas Scheme should be allowed. In case of partial settlement is allowed in most of the cases where the A.O. has made the justifiable addition, the people will certainly settle their dispute and continue to fight against the unjustified additions made. Most of the people are not able to settle the dispute V se V Scheme because there are certain bogus and unjutifiable additions made by the A.O. in addition to justifiable and correct addition.
resp sir
allcases of penny shares be liable full tax as per ao-why any concession even if allowed by cit-apppeal/tribunal if dept appeal is pending-since all penny cases are bogus known to all-even limit of withdrawalof appeal not apply by cbdt circulars
first payment be fixed say 40/50% allow bal payments upto 31/3/21 with int at 9%
WHY IN PENNY CASES DEPT APPEAL 50%WHEN ALL SUCH BOGUS -OTHERS GOOD CASE BUT NOT DECIDED SUFFER
fix first payment without int by 30-6-20of say 40/50%-bal with int at 9% by 28-2-21