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Vivad se vishwas scheme

07 March 2020

assessee is in appeal before ITAT against penalty order. penalty amt. 6lakhs , under the scheme if he withdraw the appeal how much he have to pay.

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2 Replies

Viswanath Reddy (44 Points)
Replied 07 March 2020

In case of default penalty, the assessee can settle the appeal by paying 25% of default penalty before 31.3.20. And if other wise, on / after 1.4.20 but before the last date he has to pay 30% of default penalty..

you can find these particulars in the circular no.7/2020 issued by CBDT on 4.3.20.

ajeet singh (1392 Points)
Replied 07 March 2020

Department already recovered the whole penalty amount. assessee want to withdraw appeal under the scheme , either he will get interest on refund or not, the case is related to block assessment period