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TMI Blog2021 (4) TMI 1011X X X X Extracts X X X X X X X X Extracts X X X X ..... d FAQ No. 8 as extracted above, it is quite discernible that when the tax arrears include penalty levied on such disputed tax, then in such a case only prescribed percentage of disputed tax is required to be paid by the declarant. Upon perusal for Form No. 3, we find that the assessee has filed declaration for both the appeals i.e. disputed tax appeal as well as penalty appeal and paid prescribed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tlement of dispute for quantum additions as well as penalty under Direct Tax Vivad Se Vishwas Scheme (VVS Scheme), 2020 and already received Form No. 3 from appropriate authority. The copy of the same has been placed on record. The attention has been drawn to the fact that quantum appeal ITA No. 2170/Mum/2019 has already been allowed to be withdrawn by the Tribunal vide order dated 31/12/2020. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under:- Q8. Imagine a case where an appellant desires to settle concealment penalty appeal pending before CIT(A), while continuing to litigate quantum appeal that has travelled to higher appellate forum. Considering these are two independent and different appeals, whether appellant can settle one to exclusion of others? If yes, whether settlement of penalty appeal will have any impact on quan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid by the declarant. Upon perusal for Form No. 3, we find that the assessee has filed declaration for both the appeals i.e. disputed tax appeal as well as penalty appeal and paid prescribed percentage as per the scheme. Since the quantum appeal as well as penalty appeal has been settled by the assessee on payment of disputed tax, the captioned appeal which is in relation to penalty u/s. 271(1)(c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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