In respect of some loan, addition was made u/s 68 of the Act. Appeal is pending before CIT(A) and the assessee is eligible for opting Vivad se Vishwas. After making the payment of tax under Vivad se Vishwas, can the assessee make entries in his books by crediting the said loan in his capital account?

Appeal Pending Under Section 68: Vivad se Vishwas Scheme Offers Settlement Option, but Restrictions on Loan Entries Apply.

An addition was made under Section 68 of the Act concerning a loan, and the appeal is pending before the Commissioner of Income Tax (Appeals). The assessee is eligible to opt for the Vivad se Vishwas scheme. However, after paying tax under this scheme, the assessee cannot make entries in their books by crediting the loan to their capital account. Vivad se Vishwas is not an amnesty scheme but provides an option to settle appeals on disputed issues that are not accepted by either the Department or the assessee.