The Income Tax Department has said that entities filing declaration under the direct tax dispute resolution scheme ‘Vivad Se Vishwas’ can revise them till the time authorities issue certificate specifiying details of tax arrear and the amount payable.
In a set of FAQs issued on the scheme, the Central Board of Direct Taxes (CBDT) said that it cannot be availed in a case where proceedings are pending before Income Tax Settlement Commission (ITSC) or where writ has been filed against the order of ITSC. It also clarified that in a case where Mutual Agreement Procedure (MAP) resolution is pending or assessee has not accepted MAP decision, the related appeal shall be eligible under ‘Vivad se Vishwas’.
“In such case, the declarant will be required to withdraw both MAP application and appeal,” the CBDT added. The I-T Department also clarified a taxpayer would be eligible for making declarations in cases where the Authority for Advance Ruling has ruled in favour of the taxpayer and the Department has filed appeal before the High Court/Supreme Court and the total income of the taxpayer was quantified before AAR.
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