Vivad se vishwas scheme

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1392 Points Posted on 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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On 07 March 2020 at 09:58 Report
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This discussion clarifies the Vivad Se Vishwas scheme's application to penalty orders where an assessee has appealed to the ITAT. If you withdraw your appeal, you'll need to pay either 25% of the penalty amount by 31st March 2020, or 30% if paid after 1st April 2020. The discussion also touches upon whether interest is receivable on refunds when the penalty has already been recovered by the department, particularly for block assessment periods.

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45 Points Posted on 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.
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On 07 March 2020 at 11:54
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1392 Points Posted on 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
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On 07 March 2020 at 19:37

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