Separate orders were passed u/s 201(1) & 201(1 A) of the Act for a particular assessment year. Assessee has filed two separate appeals for principal portion u/s 201(1) of the Act and interest portion u/s 201(1A) of the Act. Can he file only one declaration under Vivad se Vishwas against 201(1) order and seek 100% waiver of interest levied u/s 201(1A)of the Act ?
FAQs on Direct Tax Vivad Se Vishwas Act, 2020
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Vivad se Vishwas secures waiver of interest when an appeal against the principal tax order is settled under the scheme. Where an appeal against the principal tax demand is settled under Vivad se Vishwas, the interest component levied under the separate interest order in respect of the same assessment is waived in full, even if distinct appeals were filed separately for principal and interest.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Vivad se Vishwas secures waiver of interest when an appeal against the principal tax order is settled under the scheme.
Where an appeal against the principal tax demand is settled under Vivad se Vishwas, the interest component levied under the separate interest order in respect of the same assessment is waived in full, even if distinct appeals were filed separately for principal and interest.
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