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2014 (8) TMI 386 - BOMBAY HIGH COURTRejection of declaration of settlement of disputes – Object of the KVS Scheme - Held that:- The object of the KVS Scheme 1998 was to settle tax arrears locked in litigation at a substantial discount - any tax arrears could be settled by declaring them and paying the prescribed amount of tax arrears and it offered benefits and immunities from penalty and prosecution to the assessee who opted for it - The object of the scheme was to put an end to all the pending disputes in the form of appeals, reference, revisions and writ petitions under the Act - Following the decision in Commissioner of Income-Tax Versus Shatrushailya Digvijaysingh Jadeja [2005 (9) TMI 24 - SUPREME Court] - there is nothing to prevent a party from filing an appeal which may ultimately be found to be time barred - the mere fact that it may finally be concluded that the appeal is not maintainable, would not prior to such a finding, lead to a conclusion that no appeal was pending - Designated Authority under the KVS Scheme 1998 is directed to accept the assessee’s declaration filed for AY 1989-90 to 1993-94 under KVS Scheme 1998 – Decided in favour of Assessee.
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