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TMI Blog2023 (9) TMI 695X X X X Extracts X X X X X X X X Extracts X X X X ..... rvice of notice of rule for and on behalf of the respondent. 3. With consent of the learned advocates for both the sides, this petition is taken up for final hearing today. 4. By way of this petition under Article 226 of the Constitution of India, the petitioner has challenged the notice issued to him under Section 263 of the Income Tax Act, 1961 (for short 'the Act') for the Assessment Year 2012- 13. 5. The facts in brief indicate that the petitioner in his individual capacity filed his original return of income for Assessment Year 2012-13 on 2nd July, 2012. The case of the petitioner was re-opened under Section 147 of the Act. An assessment order under Section 143(3) read with Section 147 of the Act was passed on 19th December, 2019 as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder consideration under the DTVSV Scheme and the figures were not same as the one settled under the Scheme and therefore, it was open for the authorities to initiate proceedings under the provisions of Section 263 of the Act. 8. For the benefit of judgment, the provisions of Section 5 of the Act are reproduced which read as under : "5. (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 payable after such determination, in such form as may be prescribed. (2) The declarant shall p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or consideration is whether the impugned proceedings initiated after the petitioners opted to settle the dispute under the Direct Tax Vivad Se Vishwas Act, 2020 are sustainable or not? 40. The expression disputed tax has been denied in Section 27 of the Direct Tax Vivad Se Vishwas Act, 2020 reads as under: (j) "disputed tax", in relation to an assessment year or financial year, as the case may be, means the income-tax, including surcharge and cess (hereafter in this clause referred to as the amount of tax) payable by the appellant under the provisions of the Income-tax Act, 1961, as computed hereunder:- (A) in a case where any appeal, writ petition or special leave petition is pending before the appellate forum as on the specified dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 264 of the Income-tax Act is pending as on the specified date, the amount of tax payable by the appellant if such application for revision was not to be accepted: Provided that in a case where Commissioner (Appeals) has issued notice of enhancement under section 251 of the Income-tax Act on or before the specified date, the disputed tax shall be increased by the amount of tax pertaining to issues for which notice of enhancement has been issued: Provided further that in a case where the dispute in relation to an assessment year relates to reduction of tax credit under section 115JAA or section 115Dof the Income-tax Act or any loss or depreciation computed thereunder, the appellant shall have an option either to include the amount of tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... And in such cases, all the proceedings and claims which were withdrawn under Section 4 and all the consequences under the Income-Tax Act against the declarant shall be deemed to have been revived.". 43. Section 6 of the Direct Tax Vivad Se Vishwas Act, 2020, makes it very clear that once there is a compliance with the timeliness specified under Section (5), the designated authority shall not institute any proceedings in respect of an offence or aims or levy any penalty or charge any interest under the Income Tax in respect of the tax arrears. 44. Section 5 of the Direct Tax Vivad Se Vishwas Act, 2020, also makes it clear that save as otherwise expressly provided in sub-section(3) of Section 5 or Section 6, noting contained in this Act s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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