https://www.taxtmi.com/caselaws?id=758889 The Delhi HC allowed a writ petition challenging refusal to rectify Form 3 under the Direct Tax Vivad Se Vishwas Act, 2020. The petitioner failed to claim set-off/carry forward of losses and unabsorbed depreciation in Schedule D of the settlement application. The HC held that the VSV Act aims to settle only disputed portions of assessments, not undisputed reliefs already granted by the Assessing Officer. Since the original assessment order had allowed carry forward and set-off of losses, the Designated Authority should have rectified the apparent mistake in Form 3. The court quashed the impugned order refusing rectification. en-us Mon, 09 Sep 2024 00:00:00 +0530 Wed, 09 Jul 2025 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758889 The Delhi HC allowed a writ petition challenging refusal to rectify Form 3 under the Direct Tax Vivad Se Vishwas Act, 2020. The petitioner failed to claim set-off/carry forward of losses and unabsorbed depreciation in Schedule D of the settlement application. The HC held that the VSV Act aims to settle only disputed portions of assessments, not undisputed reliefs already granted by the Assessing Officer. Since the original assessment order had allowed carry forward and set-off of losses, the Designated Authority should have rectified the apparent mistake in Form 3. The court quashed the impugned order refusing rectification. Case-Laws Income Tax Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758889