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TMI Blog2024 (12) TMI 1177X X X X Extracts X X X X X X X X Extracts X X X X ..... signated Authority (respondent no. 1) issued a certificate in Form No. 3 dated 16.10.2020 determining the balance amount payable as Rs. 69,56,571/-. Thereafter, the Designated Authority issued a certificate in Form No. 5, in terms of Rule 7 of the Direct Tax Vivad Se Viswas Rules, 2020 (hereafter DTVSV Rules), under Section 5 (2) read with Section 6 of the DTVSV Act. The said certificate clearly recorded that a sum had been paid by the declarant towards full and final settlement of the tax arrear . Once a declarant is issued a certificate (Form No. 5) in terms of Section 5 of the DTVSV Act, and the declarant deposits the determined amount, the Designated Authority is proscribed from initiating any action or proceedings in respect of tax arr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ued by respondent no. 1 (Principal Commissioner of Income Tax-7). The petitioner had filed the return of its income for the Assessment Year (AY) 2012-13, declaring an income of Rs. 13,57,73,250/-. The said return was accepted. However, by a notice dated 29.03.2019, issued under Section 148 of the Income Tax Act, 1961 (hereafter the Act), the said assessment was sought to be reopened under Section 147 of the Act. 2. The Assessing Officer (AO) passed an assessment order under Section 147 read with Section 143 (3) of the Act determining the petitioner s income for the AY 2012-13 at Rs. 16,73,57,840/- after making an addition of Rs. 3,07,39,590/- as undisclosed expenditure under Section 69C of the Act. 3. Aggrieved by the said reassessment orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isions of this Act on or before the last date, a declaration to the designated authority in accordance with the provisions of section 4 in respect of tax arrear, then, notwithstanding anything contained in the Income-tax Act or any other law for the time being in force, the amount payable by the declarant under this Act shall be as under, namely:- Sl.No. Nature of tax arrear. Amount payable under this Act on 31st day of March, 2020. Amount payable under this Act on or after the 1st day of April, 2020 but on or before the last date. (a) Where the tax arrear is the aggregate amount of disputed tax, interest chargeable or charged on such disputed tax and penalty leviable or levied on such disputed tax. Amount of the disputed tax. The aggregate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disputed fee: Provided that in a case where an appeal or writ petition or special leave petition is filed by the income-tax authority on any issue before the appellate forum, the amount payable shall be one-half of the amount in the Table above calculated on such issue, in such manner as may be prescribed: Provided further that in a case where an appeal is filed before the Commissioner (Appeals) or objections is filed before the Dispute Resolution Panel by the appellant on any issue on which he has already got a decision in his favour from the Income Tax Appellate Tribunal (where the decision on such issue is not reversed by the High Court or the Supreme Court) or the High Court (where the decision on such issue is not reversed by the Supre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arrear shall be deemed to have been withdrawn from the date on which certificate under sub-section (1) of section 5 is issued by the designated authority. 8. Section 5(2) of the DTVSV Act mandates that the Designated Authority shall, within a period of 15 days from the date of receipt of the declaration, determine the amount as payable by the declarant. Section 5 of the DTVSV Act is reproduced below:- 5. Time and manner of payment (1) The designated authority shall, within a period of fifteen days from the date of receipt of the declaration, by order, determine the amount payable by the declarant in accordance with the provisions of this Act and grant a certificate to the declarant containing particulars of the tax arrear and the amount pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the payment of amount made by the declarant as per the certificate granted under sub-section (1) of section 5, shall be in Form No. 5. 10. In terms of Section 5 of the DTVSV Act, the Designated Authority (respondent no. 1) issued a certificate in Form No. 3 dated 16.10.2020 determining the balance amount payable as Rs. 69,56,571/-. Thereafter, the Designated Authority issued a certificate in Form No. 5, in terms of Rule 7 of the Direct Tax Vivad Se Viswas Rules, 2020 (hereafter DTVSV Rules), under Section 5 (2) read with Section 6 of the DTVSV Act. The said certificate clearly recorded that a sum of Rs. 59,73,812/- had been paid by the declarant towards full and final settlement of the tax arrear , as determined. 11. It is also relevant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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