Vivad se Vishwas Scheme

FAQs on Direct Tax Vivad Se Vishwas Act, 2020

Income Tax - Q.1 Which appeals are covered under the Vivad se Vishwas? Ans: ​Appeals pending before the appellate forum [Commissioner (Appeals), Income Tax Appellate Tribunal (1TAT), High Court or Supreme Court], and writ petitions pending before High Court (HC) or Supreme Court (SC) or special leave petitions (SLPs) pending before SC as on the 31st...

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Chart of Extension of Time Limits for Income Tax Compliance

Income Tax - Central Govt provides further relief to taxpayers during these difficult Covid times by extending timelines of certain compliances. Here is a quick look at the list of compliances that have been extended by CBDT Circular No 12/2021, Notification Nos 74/2021 & 75/2021 dt 25.06.2021 EXTENSION OF TIME LIMITS FOR EASE OF TAX COMPLIANCE Co...

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Income Tax : Exemption & extension of timelines

Income Tax - TAX EXEMPTION Taxpayer Financial help received from employers and well-wishers for meeting expenses incurred for treatment of COVID-19 is exempt from income tax liability in the hands of the taxpayer from Financial Year 2019-2020 onwards. Family of Taxpayer Financial assistance (ex-gratia payment) extended by employers and well-wishers to...

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CBDT Extends Vivad se Vishwas Dates Yet Again. So Your Appeals may have to Wait Longer!!

Income Tax - CBDT Extends Vivad se Vishwas Dates Yet Again. So Your Appeals may have to Wait Longer!! Well Yes Friends, it’s about 5 months since the PAN India rolling out of the Faceless Appeal Scheme, 2020 implemented w.e.f. 25.9.2020, but till date not even one single Faceless Appeal Order has churned out of the new regime […]...

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Dispute Resolution Scheme For Small & Medium Tax Payers-Section 245MA

Income Tax - INTRODUCTION According to a Survey India records highest rate of bribery in Asia i.e.39% and highest rate of citizens using personal connections (46%). Worries grew as inflation rate rose from 3.7% to 12.1% over 2001-2010. Bigger scams involving lakhs crores of rupees were into pockets of officials and ministers. Corruption became great h...

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Problems in Faceless Assessments & Appeals and VSV related issues

Income Tax - Representation regarding problems in Faceless Assessments & Faceless Appeals and Issues relating to VSV Matters to Chairman, Central Board of Direct Taxes. DIRECT TAXES PROFESSIONALS’ ASSOCIATION Income Tax Building, 3, Govt. Place West, Ground Floor, Kolkata 700001 Ph 033-22420638 Email : [email protected] Ref. No. – DTPA/Re...

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Rs 99,756 crore disputed tax amount settled under Vivad Se Vishwas scheme

Income Tax - Rs 99,756 crore disputed tax amount settled under Vivad Se Vishwas scheme The scheme ‘Vivad Se Vishwas’ is a voluntary scheme for resolving pending direct tax disputes amicably with the taxpayers and no targets were fixed by the Government under the  Scheme. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary...

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Direct tax collection doubled for first quarter of current fiscal

Income Tax - Direct tax collection for the first quarter of the current fiscal has doubled. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today....

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Representation for extending dates for furnishing belated/Revised Returns

Income Tax - We humbly make a revenue friendly as well as taxpayers friendly suggestion for extending dates for furnishing belated/ Revised Returns for AY 2020-21....

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Request to extend due date of compliance under Income Tax Act

Income Tax - Representation for extending various due dates of compliance under the Income Tax Act, 1961/ Payment under Vivad Se Viswas Scheme falling within 30th June, 2021 to 31st August, 2021...

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ITA allows withdrawal of appeal as appellant decide to avail benefit of VSV Scheme

Kalpesh Kashiram Patel Vs ITO (ITAT Ahmedabad) - The assessee has reqeusted to withdraw the appeal on the ground that with the introduction of Vivad Se Vishwas Scheme, the appellant has decided to avail the Scheme with respect to the said appeal and therefore the appeal of the Assessee is required to be withdrawn in terms of scheme....

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Settlement under Vivad Se Vishwas Scheme is possible for only one proceeding

Reliance Infrastructure Ltd. Vs ACIT (ITAT Mumbai) - CBDT Circular no. 9/2020 dated 22/04/2020, question no. 19, clearly enables the assessee to avail Vivad Se Vishwas Scheme to avail VSV only for one proceeding , even when two parallel proceedings were pending before appellate forums....

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Quantum appeal cannot be dismissed for Opting of VSVS against Penalty order

Poosabban Thangaraju Vs ITO (ITAT Chennai) - Poosabban Thangaraju Vs ITO (ITAT Chennai) On perusal of the Form 5 dated 25.03.2021 issued under VSVS by the Designated Authority for both the assessment years, we find that the Form 5 has been issued for full and final payment of ₹.6,250/- as taxes in terms of VSVS order under section 5(2) dated...

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Grant of leave by tribunal to file a miscellaneous application without considering its maintainability was improper

Gammon India Limited Vs Sales Tax Officer (Calcutta High Court) - Gammon India Limited Vs Sales Tax Officer (Calcutta High Court) Black’s Law Dictionary defines the word ‘set aside’ to mean annul or vacate. Thus, the word ‘setting aside’ used in clause (a) of the said Regulation necessarily means that a party to a proceeding before the tr...

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Penny Stock Cases: ITAT Condones delay in Appeal Filing; Vivad Se Vishwas scheme not confers any vested right on assessee

PCIT Vs Dinesh Kumar Bansal (HUF) (Calcutta High Court) - PCIT Vs Dinesh Kumar Bansal (HUF) (Calcutta High Court) The Court : In all these applications the revenue has sought for condonation of delay in filing the appeals before this Court under Section 260A of the Income Tax Act, 1961 (the Act, in brevity) challenging the orders passed by the Income Tax A...

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Extension of dates under Direct Tax Vivad se Vishwas Act

Notification No. 94/2021-Income Tax [S.O. 3536(E)] - (31/08/2021) - Vide Notification No. 94/2021-Income Tax Dated:  31st August, 2021 CBDT under Direct Tax Vivad se Vishwas Act, 2020 extended the last date of payment of the amount (without any additional amount) to 30th September, 2021. Also Read Press Release Dated 29th August 2021:Date of payment under Direct Ta...

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Date of payment under Direct Tax Vivad se Vishwas Act extended

Release ID: 1750137 - (29/08/2021) - Considering the difficulties being faced in issuing and amending Form no 3, which is a prerequisite for making payment by the declarant under Vivad se Vishwas Act, it has been decided to extend the last date of payment of the amount (without any additional amount) to 30th September, 2021. Necessary ...

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Last date of payment under Vivad se Vishwas extended

Notification No. 75/2021-Income Tax [S.O. 2581(E)] - (25/06/2021) - Last date of payment of amount under Vivad se Vishwas (without additional amount) which was earlier extended to 30th June, 2021 is further extended to 31st August, 2021. Last date of payment of amount under Vivad se Vishwas (with additional amount) has been notified as 31st October, 2021. Also Read:...

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Government extends time for payment under VSV to 30.06.2021

Notification No. 39/2021-Income Tax/S.O. 1704(E) - (27/04/2021) - Government extends time for payment of amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount, to 30th June, 2021 vide Notification No. 39/2021-Income Tax, Dated: 27th April, 2021. Also Read: Government extends timelines for Income Tax Assessment (Read Notificat...

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Government extends timelines for Income Tax Assessment (Read Notification)

Notification No. 38/2021-Income Tax/S.O. 1703(E) - (27/04/2021) - Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlier extended to 30th, April 2021 through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020, namely:-...

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Vivad se Vishwas Scheme’s Popular Posts

Recent Posts in "Vivad se Vishwas Scheme"

ITA allows withdrawal of appeal as appellant decide to avail benefit of VSV Scheme

Kalpesh Kashiram Patel Vs ITO (ITAT Ahmedabad)

The assessee has reqeusted to withdraw the appeal on the ground that with the introduction of Vivad Se Vishwas Scheme, the appellant has decided to avail the Scheme with respect to the said appeal and therefore the appeal of the Assessee is required to be withdrawn in terms of scheme....

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Settlement under Vivad Se Vishwas Scheme is possible for only one proceeding

Reliance Infrastructure Ltd. Vs ACIT (ITAT Mumbai)

CBDT Circular no. 9/2020 dated 22/04/2020, question no. 19, clearly enables the assessee to avail Vivad Se Vishwas Scheme to avail VSV only for one proceeding , even when two parallel proceedings were pending before appellate forums....

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FAQs on Direct Tax Vivad Se Vishwas Act, 2020

Q.1 Which appeals are covered under the Vivad se Vishwas? Ans: ​Appeals pending before the appellate forum [Commissioner (Appeals), Income Tax Appellate Tribunal (1TAT), High Court or Supreme Court], and writ petitions pending before High Court (HC) or Supreme Court (SC) or special leave petitions (SLPs) pending before SC as on the 31st...

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Quantum appeal cannot be dismissed for Opting of VSVS against Penalty order

Poosabban Thangaraju Vs ITO (ITAT Chennai)

Poosabban Thangaraju Vs ITO (ITAT Chennai) On perusal of the Form 5 dated 25.03.2021 issued under VSVS by the Designated Authority for both the assessment years, we find that the Form 5 has been issued for full and final payment of ₹.6,250/- as taxes in terms of VSVS order under section 5(2) dated 05.02.2021 pertains […]...

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Grant of leave by tribunal to file a miscellaneous application without considering its maintainability was improper

Gammon India Limited Vs Sales Tax Officer (Calcutta High Court)

Gammon India Limited Vs Sales Tax Officer (Calcutta High Court) Black’s Law Dictionary defines the word ‘set aside’ to mean annul or vacate. Thus, the word ‘setting aside’ used in clause (a) of the said Regulation necessarily means that a party to a proceeding before the tribunal can file a miscellaneous applicat...

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Penny Stock Cases: ITAT Condones delay in Appeal Filing; Vivad Se Vishwas scheme not confers any vested right on assessee

PCIT Vs Dinesh Kumar Bansal (HUF) (Calcutta High Court)

PCIT Vs Dinesh Kumar Bansal (HUF) (Calcutta High Court) The Court : In all these applications the revenue has sought for condonation of delay in filing the appeals before this Court under Section 260A of the Income Tax Act, 1961 (the Act, in brevity) challenging the orders passed by the Income Tax Appellate Tribunal, Kolkata […]...

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Rajasthan HC directs department to accept deceleration under Vivad se Vishwas Scheme, 2020

Rakesh Garg Son of Shri Kailash Chand Garg Vs PCIT (Rajasthan High Court)

Rakesh Garg Son Vs PCIT (Rajasthan High Court) Legislature framed the direct tax Vivad se Vishwas Scheme, 2020. It was brought into effect from 17.03.2020. This act contains provisions for settlement of pending direct tax disputes. The petitioner was desirous of taking benefit of the said settlement scheme contained in the Act of 2020 and...

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HC disposes appeal as Assessee availed benefit under Direct Tax Vivad Se Vishwas Act, 2020

PCIT Vs Indian Additives Ltd (Madras High Court)

PCIT Vs Indian Additives Ltd (Madras High Court) This Tax Case Appeal has been filed by the appellant / Revenue challenging the order dated 14.06.2016 passed by the Income Tax Appellate Tribunal, Bench ‘A’, Chennai in I.T.A.No.835/Mds/2016, relating to the assessment year 2010-11. 2. By order dated 23.01.2017, this court admit...

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RIl not eligible to avail Vivad Se Vishwas scheme benefit as prosecution was instituted against them under PC Act

Reliance Industries Limited Vs CCIT (Bombay High Court)

Reliance Industries Limited Vs CCIT (Bombay High Court) Respondent no.1, by letter dated 21st October 2020, replied to petitioner’s application dated 15th April 2020 that petitioner was eligible / entitled to avail the benefit of DTVSV (Direct Tax Vivad Se Vishwas) Act in accordance with law. Following the said communication, petitioner...

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Disputed tax under DTVSV Act doesn’t include interest granted u/s 244A of IT Act

Cooperative Rabobank U A Vs CIT (Bombay High Court)

From a conjoint reading of Section 2(1)(j)(A), Section 2(1)(o)(i), Section 3, Section 5 and Section 6 of the DTVSV Act, it is clear that there is no provision in the DTVSV Act, which authorises recovery of interest paid earlier by the Department under Section 244A as disputed tax, there being no statutory mandate for the Designated Author...

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