The document provides an overview of a book that aims to help readers understand the Direct Tax Vivad Se Vishwas Act, 2020, which establishes a dispute resolution scheme for settling pending direct tax disputes. The summary includes: - The book uses practical case studies and examples to explain provisions of the new law such as scope, eligibility, exclusions, computation of disputed tax and tax payable under the scheme. - It analyzes key aspects of the law including its implementation, objectives, features and certain provisions requiring clarity or relaxation. - The book also examines how specific tax disputes could be settled under the scheme, including those related to Operation Clean Money/demonetization and long-term capital gains on penny stocks

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Disclaimer
Every effort has been made to avoid errors or omissions in this publication. In spite of this,
errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice
which shall be taken care of in the next edition. It is notified that neither the publisher nor the
author or seller will be responsible for any damage or loss of action to any one, of any kind, in
any manner, therefrom. It is suggested that to avoid any doubt the reader should cross-check
all the facts, law and contents of the publication with original Government publication or
notifications.
No part of this book may be reproduced or copied in any form or by any means [graphic,
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device, etc., without the written permission of the publishers. Breach of this condition is liable
for legal action.
All disputes are subject to Delhi jurisdiction only.

3. In the previous year’s Union Budget, “Sabka Vishwas” Scheme
was brought in to reduce litigations in indirect taxes. In this
year’s Union Budget for fiscal year 2020-21, it has been proposed
to bring out a scheme known as ‘Vivad Se Vishwas Scheme
2020’, for reducing the direct tax litigation.
A huge amount of disputed income-tax arrears are locked-up
in the income-tax appeals. As on the 30th November, 2019, the
amount of disputed direct tax arrears were Rs. 9.32 lakh crores.
Considering that the actual direct tax collection in the financial
year 2018-19 was Rs.11.37 lakh crores, the disputed tax arrears
constitute nearly one-year direct tax collection.
Tax disputes consume copious amount of time, energy and
resources both on the part of the Government as well as
taxpayers. Moreover, they also deprive the Government of the
timely collection of revenue. Therefore, an urgent need has been
felt by the Government, to provide for resolution of pending
income-tax disputes. This will not only benefit the Government
by generating timely revenue but also the taxpayers who will be
able to deploy the time, energy and resources saved by opting for
such dispute resolution towards their business activities.
The Direct Tax Vivad Se Vishwas Bill, 2020, has been first
introduced in the Lok Sabha on 5.2.2020, and thereafter, an
Amendment Bill containing several amendments, has been
moved in the Lok Sabha on 2.3.2020 and has been passed on
4.3.2020.
Preface
I-7

4. The Direct Tax Vivad Se Vishwas Bill, 2020, being a Money Bill,
has been passed by a voice vote in Rajya Sabha on 13.3.2020,
and after receiving the President’s assent, this Bill is now called
as the Direct Tax Vivad Se Vishwas Act, 2020.
In this Direct Tax Dispute Resolution Scheme, the taxpayers in
whose cases, appeals are pending at any appellate level on the
specified date
i . e .
31.1.2020, or the time period for filing their
appeals has not expired on 31.1.2020, can take the benefit from
this scheme. Under the scheme, taxpayer would be required
to pay only the amount of the disputed taxes and there will be
complete waiver of interest and penalty provided they make
payment by 31st December, 2020. For disputed penalty, interest
and fee not connected with the disputed tax, the taxpayer would
be required to pay only 25% of the same for settling the dispute.
A taxpayer shall be required to pay 110% of the disputed tax (the
excess 10% shall be limited to the amount of related penalty and
interest, if any) and 30% of penalty, interest and fee in case of
payment after 31st December, 2020.
This Book serves as a ‘ready reference guide’ to help and assist
the assessees and tax practitioners in understanding all the
legislative provisions and the underlying practicalities, in this
new piece of Legislation. An honest and sincere effort has been
made in this Book to explain and demonstrate the practical
aspects and nitty-gritties of the ‘Vivad se Vishwas’ scheme in
a ‘step-by-step-manner’ through ‘numerous practical case
studies’ encompassing crucial and significant real-life income-
tax disputes of assessees.
All the practical aspects concerning the scope, coverage,
eligibility, exclusions and the amount of tax payable under
the ‘Vivad se Vishwas’ scheme have been lucidly explained with
the help of numerous practical illustrations and case studies
envisaging all possible real-life situations and scenarios of
income-tax disputes.
The litigative and crucial issues like ‘Operation Clean Money
(OCM)’ and ‘LTCG on Penny Stocks’ and the practical aspects
of settling such tax disputes in the Vivad se Vishwas scheme,
have also been discussed in detail. This Book also includes the
P R E F A C E
I-8

5. empirical analysis, findings and conclusions concerning the
most ideal income-tax disputes which may be considered by
the assessees and tax practitioners for settlement under this
‘Vivad se Vishwas’ scheme, arrived at on the basis of numerous
practical case studies.
This Book characterizes a ‘natural blend of law and practice’
concerning this new piece of Legislation, viz. “The Direct Tax
Vivad se Vishwas Act, 2020” and as such serves as an effective,
efficient, robust and handy ready referencer for the assessees
and the tax practitioners in making wise, informed and timely
decisions concerning the opting for settlement of their income-
tax disputes under this scheme, in order to optimise their taxes.
Like my first Book, “Guide to e-Assessment
”
, the idea of
this Book was also coined by my Father Sh. S.K. Mohanka,
who himself is a seasoned chartered accountant and is very
knowledgeable and meticulous in the taxation field. His sound
advice of reading and understanding carefully, the ‘in-between-
the-lines’ provisions in any piece of Legislation, has been
instrumental in penning down this piece of Book writing.
‘Learning and improving is a continuous process’ and so
honest and valuable suggestions and feedback are invited
and solicited from the ‘worthy readers’, at my e-mail id
mayankmohanka@gmail.com for further improvement.
Knowledge multiplies manifold by sharing.
It is a supreme form of wealth.
With Warm Regards
Mayank Mohanka
I-9
P R E F A C E

6. P A G E
About the Author I-5
Preface I-7
Acknowledgement I-11
About the Book I-13
Chapter-heads I-15
1
NUANCES OF THE DIRECT TAX VIVAD
SE VISHWAS ACT, 2020
1
V i v a d s e V i s h w a s S c h e m e , 2 0 2 0 : B r i d g i n g t h e D i s p u t e -
T r u s t D i v i d e
1
1.1
E n a c t m e n t i n t h e P a r l i a m e n t
2
1.2
O b j e c t i v e s & R e a s o n s
2
1.3
K e y F e a t u r e s o f t h e V i v a d s e V i s h w a s S c h e m e , 2 0 2 0
3
1.4
O u t r e a c h M i s s i o n
15
1.5
S o m e P r o v i s i o n s i n t h e V i v a d s e V i s h w a s S c h e m e , 2 0 2 0 ,
r e q u i r i n g m o r e c l a r i t y a n d / o r r e l a x a t i o n s , f r o m t h e L a w
M a k e r s
16
1.6
C o n s t i t u t i o n a l V a l i d i t y o f S u c h T a x D i s p u t e R e s o l u t i o n
S c h e m e s
18
Contents
I-17

7. P A G E
2
SCOPE, COVERAGE & ELIGIBILITY UNDER THE
DIRECT TAX VIVAD SE VISHWAS ACT, 2020
WITH PRACTICAL CASE STUDIES
2
S c o p e , C o v e r a g e a n d E l i g i b i l i t y u n d e r t h e V i v a d S e
V i s h w a s T a x D i s p u t e R e s o l u t i o n S c h e m e , 2 0 2 0
20
2.1
C a s e S t u d i e s o n S c o p e , C o v e r a g e & E l i g i b i l i t y p a r a -
m e t e r s o f V i v a d s e V i s h w a s T a x D i s p u t e R e s o l u t i o n
S c h e m e , 2 0 2 0
23
3
EXCLUSIONS IN THE DIRECT TAX VIVAD SE
VISHWAS ACT, 2020 WITH PRACTICAL
CASE STUDIES
3
E x p r e s s E x c l u s i o n s u n d e r t h e D i r e c t T a x V i v a d s e
V i s h w a s A c t , 2 0 2 0
56
3.1
C a s e S t u d i e s o n ‘ E x p r e s s E x c l u s i o n s ’ i n t h e D i r e c t T a x
V i v a d s e V i s h w a s A c t , 2 0 2 0
59
4
MEANING & COMPUTATION OF ‘DISPUTED TAX’
WITH PRACTICAL CASE STUDIES
4
U n d e r s t a n d i n g t h e M e a n i n g o f ‘ T a x A r r e a r s ’
65
4.1
U n d e r s t a n d i n g t h e M e a n i n g o f ‘ D i s p u t e d T a x ’
65
4.2
P r a c t i c a l I l l u s t r a t i o n s & C a s e S t u d i e s e x p l a i n i n g t h e
M e a n i n g & C o m p u t a t i o n o f ‘ D i s p u t e d T a x ’ u / s 2 ( 1 ) (
j
) o f
t h e D i r e c t T a x V i v a d s e V i s h w a s A c t , 2 0 2 0
67
C O N T E N T S
I-18

8. P A G E
5
COMPUTATION OF TAX PAYABLE UNDER THE VIVAD
SE VISHWAS SCHEME WITH PRACTICAL
CASE STUDIES
5
T a x P a y a b l e u n d e r t h e D i r e c t T a x V i v a d s e V i s h w a s A c t ,
2 0 2 0
109
5.1
P r a c t i c a l C a s e S t u d i e s o n ‘ T a x P a y a b l e ’ b y t h e D e c l a r a n t /
A s s e s s e e u n d e r t h e D i r e c t T a x V i v a d s e V i s h w a s A c t ,
2 0 2 0
111
6
OPERATION CLEAN MONEY (OCM)/
DEMONETISATION CASES & VIVAD SE VISHWAS TAX
DISPUTE RESOLUTION SCHEME, 2020
6
O p e r a t i o n C l e a n M o n e y
155
6.1
C B D T G u i d e l i n e s f o r S o u r c e S p e c i fi c V e r i fi c a t i o n
o f C a s h D e p o s i t s d u r i n g D e m o n e t i s a t i o n P e r i o d o f
9 - 1 1 - 2 0 1 6 t o 3 0 - 1 2 - 2 0 1 6
157
6.2
I n c r e a s e i n T a x R a t e u / s 1 1 5 B B E o f t h e I n c o m e - t a x A c t
P o s t - d e m o n e t i z a t i o n
161
6.3
P r o h i b i t i o n o f R e c e i p t s o f C a s h i n e x c e s s o f
`
T w o L a k h s
( S e c t i o n 2 6 9 S T o f t h e I n c o m e - t a x A c t , 1 9 6 1 )
161
6.4
U n d e r s t a n d i n g a n d I n t e r p r e t a t i o n o f L a w c o n c e r n i n g
a d d i t i o n s b e i n g m a d e u / s s 6 8 , 6 9 , 6 9 A , 6 9 B , 6 9 C r e a d
w i t h s e c t i o n 1 1 5 B B E o f t h e I n c o m e - t a x A c t , i n O C M /
D e m o n e t i s a t i o n c a s e s
162
6.5
O C M / D e m o n e t i s a t i o n C a s e s & V i v a d s e V i s h w a s T a x
D i s p u t e R e s o l u t i o n S c h e m e , 2 0 2 0
167
6.6
C a s e S t u d y o n S e t t l e m e n t o f D i s p u t e i n O C M / D e m o -
n e t i s a t i o n u n d e r V i v a d s e V i s h w a s S c h e m e , 2 0 2 0
167
6.7
F u r t h e r R e l a x a t i o n i n t h e A m o u n t o f T a x t o b e p a i d
s h o u l d b e c o n s i d e r e d , i f D i s p u t e d T a x f a l l s u n d e r s e c t i o n
1 1 5 B B E
170
I-19
C O N T E N T S

9. P A G E
7
LTCG ON PENNY STOCKS & VIVAD SE VISHWAS TAX
DISPUTE RESOLUTION SCHEME, 2020
7
L T C G o n P e n n y S t o c k s & V i v a d s e V i s h w a s S c h e m e ,
2 0 2 0
171
7.1
C a s e S t u d y o n S e t t l e m e n t o f D i s p u t e c o n c e r n i n g L o n g
T e r m C a p i t a l G a i n s o n P e n n y S t o c k s , u n d e r t h e V i v a d s e
V i s h w a s S c h e m e , 2 0 2 0
172
8
ANALYSIS OF IDEAL CASES FOR OPTING UNDER
THE VIVAD SE VISHWAS TAX DISPUTE RESOLUTION
SCHEME, 2020
8
I d e a l C a s e s f o r O p t i n g u n d e r t h e V i v a d s e V i s h w a s T a x
D i s p u t e R e s o l u t i o n S c h e m e , 2 0 2 0
176
8.1
C o n c l u s i o n s d e r i v e d f r o m t h e e m p i r i c a l fi n d i n g s
a n d o b s e r v a t i o n s b a s e d o n t h e p r a c t i c a l c a s e s t u d i e s
i l l u s t r a t e d i n p r e v i o u s c h a p t e r s
176
9
FAQs ON DIRECT TAX VIVAD SE VISHWAS ACT, 2020
9.1
F r e q u e n t l y A s k e d Q u e s t i o n s ( F A Q s ) o n V i v a d s e V i s h w a s
T a x D i s p u t e R e s o l u t i o n S c h e m e , 2 0 2 0
181
APPENDICES
u Direct Tax Vivad se Vishwas Act, 2020 205
u Direct Tax Vivad se Vishwas Rules, 2020 216
u
‘
Designated Authorities
’
under the ’Direct Tax Vivad se Vishwas
Act, 2020’ 270
u Clarifications on provisions of Direct Tax Vivad se Vishwas
Act, 2020 274
u Procedure for making declaration in Form 1 under sub-
rule (1) of Rule 3 and furnishing undertaking in Form 2 under
sub-rule (2) of Rule 3 under the Direct Tax Vivad se Vishwas
Rules, 2020 289
C O N T E N T S
I-20

10. Sample Chapter
4. UNDERSTANDING THE MEANING OF ‘TAX ARREARS’
U n d e r t h e V i v a d s e V i s h w a s T a x D i s p u t e R e s o l u t i o n S c h e m e , a l l t a x
d i s p u t e s o f t h e “ a p p e l l a n t ” , i n v o l v i n g
“tax arrears”
a s d e f i n e d u / s
2 ( 1 ) (
o
) o f t h e D i r e c t T a x V i v a d s e V i s h w a s A c t , 2 0 2 0 , a r e c o v e r e d .
S e c t i o n 2 ( 1 ) (
o
) o f t h e D i r e c t T a x V i v a d s e V i s h w a s A c t , 2 0 2 0 , d e f i n e s
t h e t e r m “ t a x a r r e a r s ” a s , “ t a x a r r e a r ” m e a n s , —
(
i
) t h e a g g r e g a t e a m o u n t o f d i s p u t e d t a x , i n t e r e s t c h a r g e a b l e o r
c h a r g e d o n s u c h d i s p u t e d t a x , a n d p e n a l t y l e v i a b l e o r l e v i e d o n
s u c h d i s p u t e d t a x ; o r
(
ii
) d i s p u t e d i n t e r e s t ;
(
iii
) d i s p u t e d p e n a l t y ; o r
(
iv
) d i s p u t e d f e e s .
4.1 UNDERSTANDING THE MEANING OF ‘DISPUTED TAX’
T h e m o s t s i g n i f i c a n t a n d c r u c i a l a s p e c t o f a n y t a x D i s p u t e R e s o l u t i o n
s c h e m e i s t h e c o n c e s s i o n / r e l a x a t i o n i n t h e a m o u n t o f t a x t o b e p a i d i n
s u c h D i s p u t e R e s o l u t i o n s c h e m e i n l i e u o f t h e t a x w h i c h i s o t h e r w i s e
p a y a b l e , h a d s u c h D i s p u t e R e s o l u t i o n s c h e m e b e e n n o t i n e x i s t e n c e .
I n t h e ‘ V i v a d S e V i s h w a s 2 0 2 0 ’ T a x D i s p u t e R e s o l u t i o n S c h e m e , a l s o , i t
h a s b e e n p r o v i d e d t h a t t h e a s s e s s e e s a v a i l i n g t h e b e n e f i t o f t h i s s c h e m e
s h a l l b e l i a b l e t o p a y o n l y t h e
‘disputed tax’
, a n d w i l l g e t i m m u n i t y f r o m
p a y i n g t h e i n t e r e s t a n d p e n a l t y o n s u c h d i s p u t e d t a x .
S o , t h e t e r m ‘ d i s p u t e d t a x ’ , o r t h e ‘ a m o u n t o f t a x p a y a b l e u n d e r t h e
s c h e m e ’ , c o n s t i t u t e s t h e f o r m i d a b l e t h r u s t o f t h i s s c h e m e o n w h i c h t h e
w h o l e f o u n d a t i o n o f t h i s D i s p u t e R e s o l u t i o n s c h e m e r e s t s .
4
MEANING & COMPUTATION OF
‘DISPUTED TAX’ WITH PRACTICAL
CASE STUDIESC H A P T E R
65

11. T h e r e f o r e , k n o w i n g t h e e x a c t m e a n i n g , s c o p e a n d c o v e r a g e o f t h i s t e r m
o f ‘ d i s p u t e d t a x ’ , i s a n e s s e n t i a l a n d c r u c i a l p r e r e q u i s i t e t o u n d e r s t a n d
a n d c o m p r e h e n d t h i s D i s p u t e R e s o l u t i o n s c h e m e f o r b e t t e r a n d i n f o r m e d
d e c i s i o n m a k i n g c o n c e r n i n g t h e o p t i n g o f t h i s s c h e m e .
4.1.1 Definition of ‘Disputed Tax’, in the Statute
T h e d e f i n i t i o n o f t h e t e r m
‘disputed tax’
i s c o n t a i n e d i n
section 2(1)(j)o f t h e D i r e c t T a x V i v a d S e V i s h w a s A c t , 2 0 2 0 .
Section 2(1)(j) of the Act, defines the term ‘disputed tax’ as under:
‘ D i s p u t e d t a x ’ , i n r e l a t i o n t o a n a s s e s s m e n t y e a r o r f i n a n c i a l y e a r , a s
t h e c a s e m a y b e , m e a n s t h e i n c o m e - t a x , i n c l u d i n g s u r c h a r g e a n d c e s s ,
( h e r e a f t e r i n t h i s c l a u s e r e f e r r e d t o a s t h e a m o u n t o f t a x ) , p a y a b l e
b y t h e a p p e l l a n t u n d e r t h e p r o v i s i o n s o f t h e I n c o m e - t a x A c t , 1 9 6 1 , a s
c o m p u t e d h e r e u n d e r :
( A ) i n a c a s e w h e r e a n y a p p e a l , w r i t p e t i t i o n o r s p e c i a l l e a v e p e t i t i o n
i s p e n d i n g b e f o r e t h e a p p e l l a t e f o r u m a s o n t h e s p e c i fi e d d a t e
( r e a d 3 1 . 1 . 2 0 2 0 ) , t h e a m o u n t o f t a x t h a t i s p a y a b l e b y t h e a p p e l
-l a n t , i f s u c h a p p e a l , w r i t p e t i t i o n o r s p e c i a l l e a v e p e t i t i o n w a s t o
b e d e c i d e d a g a i n s t h i m ;
( B ) i n a c a s e , w h e r e a n o r d e r i n a n a p p e a l o r i n w r i t p e t i t i o n h a s b e e n
p a s s e d b y t h e a p p e l l a t e f o r u m o n o r b e f o r e t h e s p e c i fi e d d a t e
( r e a d 3 1 . 1 . 2 0 2 0 ) , a n d t h e t i m e f o r fi l i n g a p p e a l o r s p e c i a l l e a v e
p e t i t i o n a g a i n s t s u c h o r d e r h a s n o t e x p i r e d a s o n t h a t d a t e , t h e
a m o u n t o f t a x p a y a b l e b y t h e a p p e l l a n t , a f t e r g i v i n g e f f e c t t o t h e
o r d e r s o p a s s e d ;
( C ) i n a c a s e , w h e r e t h e o r d e r h a s b e e n p a s s e d b y t h e A s s e s s i n g O f fi c e r
o n o r b e f o r e t h e s p e c i fi e d d a t e ( r e a d 3 1 . 1 . 2 0 2 0 ) , a n d t h e t i m e f o r
fi l i n g a p p e a l a g a i n s t s u c h o r d e r h a s n o t e x p i r e d a s o n t h a t d a t e ,
t h e a m o u n t o f t a x p a y a b l e b y t h e a p p e l l a n t , i n a c c o r d a n c e w i t h
s u c h o r d e r ;
( D ) i n a c a s e , w h e r e o b j e c t i o n fi l e d b y t h e a p p e l l a n t i s p e n d i n g b e f o r e
t h e D i s p u t e R e s o l u t i o n P a n e l u / s 1 4 4 C o f I n c o m e - t a x A c t a s o n
t h e s p e c i fi e d d a t e ( r e a d 3 1 . 1 . 2 0 2 0 ) , t h e a m o u n t o f t a x p a y a b l e
b y t h e a p p e l l a n t , i f t h e D i s p u t e R e s o l u t i o n P a n e l w a s t o c o n fi r m
t h e v a r i a t i o n p r o p o s e d i n t h e d r a f t o r d e r ;
( E ) i n a c a s e , w h e r e D i s p u t e R e s o l u t i o n P a n e l h a s i s s u e d a n y d i r e c t i o n
u / s 1 4 4 C ( 5 ) o f I n c o m e - t a x A c t , a n d t h e A s s e s s i n g O f fi c e r h a s n o t
p a s s e d t h e o r d e r u / s 1 4 4 C ( 1 3 ) , o n o r b e f o r e t h e s p e c i fi e d d a t e
( r e a d 3 1 . 1 . 2 0 2 0 ) , t h e a m o u n t o f t a x p a y a b l e b y t h e a p p e l l a n t a s
Para 4.1
M E A N I N G & C O M P U T A T I O N O F D I S P U T E D T A X
66

12. p e r t h e a s s e s s m e n t o r d e r t o b e p a s s e d b y t h e A s s e s s i n g O f fi c e r
u / s 1 4 4 C ( 1 3 ) o f I n c o m e - t a x A c t ;
( F ) i n a c a s e w h e r e a n a p p l i c a t i o n f o r r e v i s i o n u / s 2 6 4 o f t h e I n
-c o m e - t a x A c t i s p e n d i n g a s o n t h e s p e c i fi e d d a t e ( r e a d 3 1 . 1 . 2 0 2 0 ) ,
t h e a m o u n t o f t a x p a y a b l e b y t h e a p p e l l a n t , i f s u c h a p p l i c a t i o n
f o r r e v i s i o n w a s n o t t o b e a c c e p t e d :
Provided
t h a t i n a c a s e , w h e r e C o m m i s s i o n e r ( A p p e a l s ) h a s i s s u e d
a n o t i c e o f e n h a n c e m e n t u / s 2 5 1 o f t h e I n c o m e - t a x A c t , o n o r
b e f o r e t h e s p e c i fi e d d a t e ( r e a d 3 1 . 1 . 2 0 2 0 ) , t h e d i s p u t e d t a x s h a l l
b e i n c r e a s e d b y t h e a m o u n t o f t a x p e r t a i n i n g t o i s s u e s f o r w h i c h
n o t i c e o f e n h a n c e m e n t h a s b e e n i s s u e d :
Provided further
t h a t i n a c a s e w h e r e t h e d i s p u t e i n r e l a t i o n t o a n
a s s e s s m e n t y e a r r e l a t e s t o r e d u c t i o n o f t a x c r e d i t u / s 1 1 5 J A A o r
s e c t i o n 1 1 5 D o f t h e I n c o m e - t a x A c t , o r a n y l o s s o r d e p r e c i a t i o n
c o m p u t e d t h e r e u n d e r , t h e a p p e l l a n t s h a l l h a v e a n o p t i o n e i t h e r
t o i n c l u d e t h e a m o u n t o f t a x r e l a t e d t o s u c h t a x c r e d i t o r l o s s o r
d e p r e c i a t i o n i n t h e a m o u n t o f d i s p u t e d t a x , o r t o c a r r y f o r w a r d
t h e r e d u c e d t a x c r e d i t o r l o s s o r d e p r e c i a t i o n , i n s u c h m a n n e r
a s m a y b e p r e s c r i b e d .
H u m a n m e m o r y i s c o n d i t i o n e d t o u n d e r s t a n d a n d r e m e m b e r
t h e t h i n g s , e x p l a i n e d i n a p r a c t i c a l a n d d e m o n s t r a t i v e m a n n e r ,
b e t t e r a n d f a s t e r , s o a n h o n e s t a n d s i n c e r e e f f o r t h a s b e e n m a d e
i n t h e e n s u i n g p a r a g r a p h s t o e x p l a i n a n d d e m o n s t r a t e t h e p r a c
-t i c a l a s p e c t s a n d n i t t y - g r i t t i e s c o n c e r n i n g t h e m e a n i n g o f t h e
t e r m ‘ d i s p u t e d t a x ’ , a n d i t s c o m p u t a t i o n , a s d e fi n e d i n s e c t i o n
2 ( 1 ) (
j
) o f t h e A c t ( a s m e n t i o n e d
supra
) , w i t h t h e h e l p o f
‘
p r a c t i c a l
i l l u s t r a t i o n s a n d c a s e s t u d i e s . ’
4.2 PRACTICAL ILLUSTRATIONS & CASE STUDIES EXPLAINING
THE MEANING & COMPUTATION OF ‘DISPUTED TAX’ U/S 2(1)
(J) OF THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020
‘Disputed tax’
, i n r e l a t i o n t o a n a s s e s s m e n t y e a r o r f i n a n c i a l y e a r , a s
t h e c a s e m a y b e , m e a n s t h e i n c o m e - t a x , i n c l u d i n g s u r c h a r g e a n d c e s s ,
( h e r e i n a f t e r r e f e r r e d t o a s t h e a m o u n t o f t a x ) , p a y a b l e b y t h e a p p e l l a n t
u n d e r t h e p r o v i s i o n s o f t h e I n c o m e - t a x A c t , 1 9 6 1 , a s c o m p u t e d h e r e u n d e r :
4.2.1 Case Study on ‘Disputed Tax u/s 2(1)(j)(A) of the Direct Tax
Vivad Se Vishwas Act, 2020
(A) in a case where any appeal, writ petition or special leave petition
is pending before the appellate forum as on the specified date (read
67
P R A C T I C A L I L L U S T R A T I O N S & C A S E S T U D I E S
Para 4.2

13. 31.1.2020), the amount of tax that is payable by the appellant, if such
appeal, writ petition or special leave petition was to be decided against
him.
Assessee Name:
M r . P
Assessment Year:
2 0 1 7 - 1 8
Nature & section under which order
has been passed
R e g u l a r A s s e s s m e n t O r d e r u / s
1 4 3 ( 3 )
Additions/Disallowances:
T h e a d d i t i o n o f
`
5 0 , 0 0 , 0 0 0 / - u / s 6 9 A r e a d
w i t h s e c t i o n 1 1 5 B B E , t a x a b l e @ 7 8 % ( 6 0 % b a s i c t a x r a t e u / s 1 1 5 B B E
p l u s s u r c h a r g e 2 5 % ) , h a s b e e n m a d e , o n a c c o u n t o f c o n s i d e r i n g t h e c a s h
d e p o s i t s m a d e b y a s s e s s e e i n h i s b a n k a c c o u n t d u r i n g t h e d e m o n e t i
-z a t i o n p e r i o d , f r o m 9 . 1 1 . 2 0 1 6 t i l l 3 1 . 1 2 . 2 0 1 6 , a s u n e x p l a i n e d d e p o s i t s .
Date of Passing of Order:
2 8 . 1 2 . 2 0 1 9
Date of Receipt of Order & Demand Notice u/s 156:
2 8 . 1 2 . 2 0 1 9
I n ‘ e - P r o c e e d i n g s ’ w i n d o w , t h e a s s e s s e e r e c e i v e s t h e a s s e s s m e n t o r d e r
a s s o o n a s t h e o r d e r i s u p l o a d e d b y t h e A O i n t h e r e g i s t e r e d e - f i l i n g a / c
o f t h e a s s e s s e e .
TheComputationofIncomeandIncome-taxDemandu/s156,pursuant
to the said Regular Assessment Order for AY 2017-18:
( R s . )
R e t u r n e d I n c o m e : 8 , 0 0 , 0 0 0 / -
A d d i t i o n o n a c c o u n t o f u n e x p l a i n e d i n v e s t m e n t u / s 6 9 A r e a d
w i t h s e c t i o n 1 1 5 B B E ( t a x a b l e @ 7 8 % a s a b o v e )
5 0 , 0 0 , 0 0 0 / -
A s s e s s e d I n c o m e : 5 8 , 0 0 , 0 0 0 / -
T a x L i a b i l i t y
(a)
: 3 9 , 8 7 , 3 7 0 / -
A d d : I n t e r e s t u / s 2 3 4 B / 2 3 4 C
(b)
: 1 4 , 7 6 , 0 0 0 / -
T o t a l T a x L i a b i l i t y
(c)
: 5 4 , 6 3 , 3 7 0 / -
L e s s : T a x a l r e a d y p a i d
(d)
: 8 7 , 3 7 0 / -
N e t T a x L i a b i l i t y
(e)
: 5 3 , 7 6 , 0 0 0 / -
A g g r i e v e d b y t h e s a i d a d d i t i o n , t h e a s s e s s e e M r . P , h a s e - f i l e d a n a p p e a l
b e f o r e C I T ( A p p e a l s ) , u / s 2 4 6 A , i n t h e p r e s c r i b e d F o r m 3 5 , o n 2 7 . 1 . 2 0 2 0 ,
i.e
. w i t h i n 3 0 d a y s f r o m t h e r e c e i v i n g o f t h e a s s e s s m e n t o r d e r u / s 1 4 3 ( 3 )
o n 2 8 . 1 2 . 2 0 1 9 .
T h e r e f o r e , t h e a p p e a l o f t h e a s s e s s e e M r . P i s p e n d i n g o n t h e s p e c i f i e d d a t e
o n 3 1 . 1 . 2 0 2 0 , b e f o r e t h e s p e c i f i e d a p p e l l a t e a u t h o r i t y
i.e.
C I T ( A p p e a l s ) .
Para 4.2
M E A N I N G & C O M P U T A T I O N O F D I S P U T E D T A X
68

14. T h e r e f o r e , t h i s c a s e i s c o v e r e d u n d e r s e c t i o n 2 ( 1 ) (
j
) ( A ) o f t h e D i r e c t T a x
V i v a d S e V i s h w a s A c t , 2 0 2 0 a n d a c c o r d i n g l y t h e D i s p u t e d T a x p a y a b l e
w o u l d b e t h e a m o u n t o f t a x t h a t i s p a y a b l e b y t h e a p p e l l a n t M r . P , i f h i s
a p p e a l b e f o r e t h e C I T ( A p p e a l s ) , w a s t o b e d e c i d e d a g a i n s t h i m .
T h e a s s e s s e e M r . P h a s f i l e d h i s a p p e a l a g a i n s t t h e a d d i t i o n o f
`
5 0 , 0 0 , 0 0 0 / -
m a d e b y t h e A O , u / s 6 9 A r e a d w i t h s e c t i o n 1 1 5 B B E o f t h e I n c o m e - t a x
A c t , o n a c c o u n t o f c o n s i d e r i n g t h e c a s h d e p o s i t s d u r i n g t h e d e m o n e
-t i s a t i o n p e r i o d a s u n e x p l a i n e d i n v e s t m e n t s , i n t h e r e g u l a r a s s e s s m e n t
o r d e r f o r A Y 2 0 1 7 - 1 8 . S o , t h e ‘ d i s p u t e d t a x ’ , i n t h i s c a s e w o u l d b e t h e
i n c o m e - t a x a n d s u r c h a r g e p a y a b l e ( e x c l u d i n g i n t e r e s t u / s 2 3 4 B / C ) ,
o n t h e a d d i t i o n o f
`
5 0 , 0 0 , 0 0 0 / - , a s i f t h e a p p e a l o f t h e a s s e s s e e M r . P ,
b e f o r e t h e C I T ( A p p e a l s ) , h a s b e e n d e c i d e d a g a i n s t h i m .
Computation of ‘Disputed Tax’ u/s 2(1)(j)(A) of the Act, in this Case
Study
Total Tax Liability
( i n c l u d i n g I n c o m e t a x & s u r c h a r g e p l u s
i n t e r e s t u / s 2 3 4 B / 2 3 4 C ) a s p e r c o l u m n
(c)
i n N o t i c e o f D e m a n d
u / s 1 5 6 , a b o v e :
`
5 4 , 6 3 , 3 7 0 / -
Less: Tax Already Paid on Returned Income
a s p e r c o l u m n
(d)
i n N o t i c e o f D e m a n d u / s 1 5 6 , a b o v e `
8 7 , 3 7 0 / -
Tax Arrears Payable
u / s 2 ( 1 ) (
o
) (
i
) o f t h e D i r e c t T a x V i v a d S e
V i s h w a s A c t , 2 0 2 0 `
5 3 , 7 6 , 0 0 0 / -
Less: Interest u/s 234B/C
a s p e r c o l u m n
(b)
i n N o t i c e o f
D e m a n d u / s 1 5 6 , a b o v e , i n r e s p e c t o f d i s p u t e d t a x `
1 4 , 7 6 , 0 0 0 / -
Disputed Tax u/s 2(1)(j)(A) of the Act `39,00,000/-
Computation of Disputed Tax as per Schedule A annexed to Form 1
(Declaration Form)
S.
No.
PARTICULARS Amount in
INR
A T o t a l i n c o m e a s p e r o r d e r a g a i n s t w h i c h a p p e a l
fi l e d o r t o b e fi l e d
A 5 8 , 0 0 , 0 0 0
B D i s p u t e d i n c o m e o u t o f A B 5 0 , 0 0 , 0 0 0
(
i
) R e l a t i n g t o i s s u e s , w h i c h h a v e b e e n d e c i d e d
i n f a v o u r o f a s s e s s e e i n h i s c a s e f o r a n y
a s s e s s m e n t y e a r b y I T A T ( a n d s u c h o r d e r
h a s n o t b e e n s u b s e q u e n t l y r e v e r s e d b y t h e
H i g h C o u r t ) o r H i g h C o u r t ( a n d s u c h o r d e r
B (
i
) N I L
69
P R A C T I C A L I L L U S T R A T I O N S & C A S E S T U D I E S
Para 4.2

15. S.
No.
PARTICULARS Amount in
INR
h a s n o t b e e n s u b s e q u e n t l y R e v e r s e d b y t h e
S u p r e m e C o u r t . )
(
ii
) R e l a t i n g t o i s s u e s o t h e r t h a n B ( i ) B (
ii
) 5 0 , 0 0 , 0 0 0
C D i s p u t e d t a x i n r e l a t i o n t o d i s p u t e d i n c o m e
a t B (
i
)
C N i l
D D i s p u t e d t a x i n r e l a t i o n t o d i s p u t e d i n c o m e
a t B (
ii
)
D 3 9 , 0 0 , 0 0 0
E T a x e f f e c t o f e n h a n c e m e n t , i f a n y , b y C I T ( A ) E N i l
F
Total disputed tax (C+D+E) F 39,00,000
G I n t e r e s t c h a r g e d o n d i s p u t e d t a x G 1 4 , 7 6 , 0 0 0
H P e n a l t y l e v i e d o n d i s p u t e d t a x H N i l
I T a x a r r e a r s ( F + G + H ) I 5 3 , 7 6 , 0 0 0
Conclusion:
T h u s , i n t h e a b o v e C a s e S t u d y , e n v i s a g i n g t h e s i t u a t i o n
u / s 2 ( 1 ) (
j
) ( A ) o f t h e D i r e c t T a x V i v a d S e V i s h w a s A c t , 2 0 2 0 , t h e i n c o m e
t a x l i a b i l i t y o f t h e a s s e s s e e M r . P , a s i t e x i s t e d b e f o r e t h e o p t i n g o f t h i s
D i s p u t e R e s o l u t i o n s c h e m e w a s
`
5 3 , 7 6 , 0 0 0 / - . H o w e v e r , t h e d i s p u t e d
t a x p a y a b l e b y h i m , i f t h i s D i s p u t e R e s o l u t i o n s c h e m e i s b e i n g o p t e d b y
h i m , c o m e s o u t t o
`
3 9 , 0 0 , 0 0 0 / - . T h i s r e d u c t i o n i n t a x l i a b i l i t y u n d e r t h i s
D i s p u t e R e s o l u t i o n s c h e m e i s o n a c c o u n t o f i m m u n i t y f r o m t h e p a y m e n t
o f i n t e r e s t u / s 2 3 4 B & 2 3 4 C o f t h e I n c o m e - t a x A c t o f
`
1 4 , 7 6 , 0 0 0 / - .
4.2.2 Case Study on ‘Disputed Tax u/s 2(1)(j)(B) of the Direct Tax
Vivad Se Vishwas Act, 2020
(B) In a case, where an order in an appeal or in writ petition has been
passed by the appellate forum on or before the specified date (read
31.1.2020), and the time for filing appeal or special leave petition against
such order has not expired as on that date, the amount of tax payable
by the appellant, after giving effect to the order so passed.
Assessee Name:
M r . Q
Assessment Year:
2 0 1 6 - 1 7
Nature & section under which order has
been passed
R e g u l a r A s s e s s m e n t O r d e r
u / s 1 4 3 ( 3 )
Additions/Disallowances:
T h e a d d i t i o n o f
`
1 , 0 0 , 0 0 , 0 0 0 / - u / s 6 8 r e a d
w i t h s e c t i o n 1 1 5 B B E , t a x a b l e @ m a x i m u m m a r g i n a l t a x r a t e u / s 1 1 5 B B E ,
h a s b e e n m a d e , o n a c c o u n t o f c o n s i d e r i n g t h e l o n g - t e r m c a p i t a l g a i n s
Para 4.2
M E A N I N G & C O M P U T A T I O N O F D I S P U T E D T A X
70

16. e a r n e d b y t h e a s s e s s e e M r . Q , o n s a l e o f l i s t e d s h a r e s o f M / s . K a p p a c
P h a r m a , ( a p e n n y s t o c k ) , o n r e c o g n i s e d s t o c k e x c h a n g e , a s b o g u s /
a c c o m m o d a t i o n e n t r y .
Date of Passing of Order:
2 8 . 1 2 . 2 0 1 8
Date of Receipt of Order & Demand Notice u/s 156:
2 9 . 1 2 . 2 0 1 8
TheComputationofIncomeandIncomeTaxDemandu/s156,pursuant
to the said Regular Assessment Order for AY 2016-17:
R e t u r n e d I n c o m e : 1 5 , 0 0 , 0 0 0 / -
A d d i t i o n o n a c c o u n t o f b o g u s l o n g - t e r m c a p i t a l g a i n o n s a l e
o f a p e n n y s t o c k u / s 6 8 r e a d w i t h s e c t i o n 1 1 5 B B E ( t a x a b l e @
m a x i m u m m a r g i n a l t a x r a t e )
1 0 0 , 0 0 , 0 0 0 / -
A s s e s s e d I n c o m e : 1 , 1 5 , 0 0 , 0 0 0 / -
I n c o m e T a x L i a b i l i t y ( i n c l u d i n g s u r c h a r g e & e d u c a t i o n c e s s )
(a)
: 3 5 , 8 4 , 0 0 0 / -
A d d : I n t e r e s t u / s 2 3 4 B / 2 3 4 C
(b)
: 1 2 , 2 0 , 0 0 0 / -
T o t a l T a x L i a b i l i t y
(c)
: 4 8 , 0 4 , 0 0 0 / -
L e s s : T a x a l r e a d y p a i d
(d)
: 2 , 8 4 , 0 0 0 / -
N e t T a x L i a b i l i t y
(e)
: 4 5 , 2 0 , 0 0 0 / -
A g g r i e v e d b y t h e s a i d a d d i t i o n , t h e a s s e s s e e M r . Q , h a s e - f i l e d a n a p p e a l
b e f o r e C I T ( A p p e a l s ) , u / s 2 4 6 A , i n t h e p r e s c r i b e d F o r m 3 5 , o n 2 7 . 1 . 2 0 1 9 ,
i.e.
w i t h i n 3 0 d a y s f r o m t h e r e c e i v i n g o f t h e a s s e s s m e n t o r d e r u / s 1 4 3 ( 3 )
o n 2 8 . 1 2 . 2 0 1 8 .
H o w e v e r , t h e a p p e a l o f t h e a s s e s s e e w a s d e c i d e d a g a i n s t h i m b y t h e C I T
( A p p e a l s )
vide
a p p e a l o r d e r d a t e d 2 9 . 1 . 2 0 2 0 , w h i c h h a s b e e n u p l o a d e d
o n t h e r e g i s t e r e d e - f i l i n g a c c o u n t o f t h e a s s e s s e e o n t h e s a m e d a y a n d
a s s u c h i s d e e m e d t o b e r e c e i v e d b y t h e a s s e s s e e o n 2 9 . 1 . 2 0 2 0 o n l y .
T h e a s s e s s e e M r . Q h a s y e t t o f i l e a n a p p e a l b e f o r e t h e n e x t h i g h e r
a p p e l l a t e a u t h o r i t y , I n c o m e T a x A p p e l l a t e T r i b u n a l ( I T A T ) , a g a i n s t t h e
s a i d C I T A p p e a l O r d e r d a t e d 2 9 . 1 . 2 0 2 0 .
I n t h i s c a s e s t u d y , t h e a p p e a l o r d e r , d i s p o s i n g o f t h e a p p e a l o f t h e a s
-s e s s e e M r . Q , f o r t h e A Y 2 0 1 6 - 1 7 , h a s b e e n p a s s e d b y t h e C I T ( A p p e a l s )
o n 2 9 . 1 . 2 0 2 0 ,
i.e
. b e f o r e t h e s p e c i f i e d d a t e o f 3 1 . 1 . 2 0 2 0 .
F u r t h e r , t h e a s s e s s e e M r . Q h a s a t i m e p e r i o d o f 6 0 d a y s f r o m t h e d a t e
o f r e c e i p t o f t h e C I T ( A p p e a l s ) O r d e r o n 2 9 . 1 . 2 0 2 0 ,
i.e
. u p t i l l 3 0 . 3 . 2 0 2 0 ,
t o f i l e a n a p p e a l b e f o r e t h e I T A T a g a i n s t t h e s a i d o r d e r .
T h e r e f o r e , t h e t i m e f o r f i l i n g a n a p p e a l a g a i n s t t h e a p p e a l o r d e r p a s s e d
b y t h e C I T ( A p p e a l s ) o n 2 9 . 1 . 2 0 2 0 , h a s n o t e x p i r e d a s o n t h e s p e c i f i e d
d a t e o f 3 1 . 1 . 2 0 2 0 .
71
P R A C T I C A L I L L U S T R A T I O N S & C A S E S T U D I E S
Para 4.2

17. S o , t h i s c a s e i s c o v e r e d u n d e r s e c t i o n 2 ( 1 ) (
j
) ( B ) o f t h e D i r e c t T a x V i v a d
S e V i s h w a s A c t , 2 0 2 0 a n d a c c o r d i n g l y t h e D i s p u t e d T a x p a y a b l e w o u l d
b e t h e a m o u n t o f t a x p a y a b l e b y M r . Q , a f t e r g i v i n g e f f e c t t o t h e a p p e a l
o r d e r d a t e d 2 9 . 1 . 2 0 2 0 , p a s s e d b y t h e C I T ( A p p e a l s ) f o r t h e A Y 2 0 1 6 - 1 7 .
T h e a s s e s s e e M r . Q h a s f i l e d h i s a p p e a l b e f o r e t h e C I T ( A p p e a l s ) a g a i n s t
t h e a d d i t i o n o f
`
1 0 0 , 0 0 , 0 0 0 m a d e b y t h e A O , u / s 6 8 r e a d w i t h s e c t i o n
1 1 5 B B E o f t h e I n c o m e - t a x A c t , o n a c c o u n t o f c o n s i d e r i n g t h e l o n g -
t e r m c a p i t a l g a i n o n s a l e o f l i s t e d p e n n y s t o c k a s b o g u s , i n t h e r e g u l a r
a s s e s s m e n t o r d e r f o r A Y 2 0 1 6 - 1 7 .
S o , t h e ‘ d i s p u t e d t a x ’ , a f t e r g i v i n g e f f e c t t o t h e o r d e r o f C I T ( A p p e a l s ) ,
p a s s e d o n 2 9 . 1 . 2 0 2 0 , i n t h i s c a s e w o u l d b e t h e i n c o m e t a x a n d s u r c h a r g e
p a y a b l e ( e x c l u d i n g i n t e r e s t u / s 2 3 4 B / 2 3 4 C ) , b y M r . Q , o n t h e a d d i t i o n
o f
`
1 , 0 0 , 0 0 , 0 0 0 .
Computation of ‘Disputed Tax’ u/s 2(1)(j)(B) of the Act, in this Case
Study
Total Tax Liability
( i n c l u d i n g I n c o m e t a x & s u r c h a r g e p l u s
i n t e r e s t u / s 2 3 4 B / 2 3 4 C ) , a s p e r c o l u m n N o . (
c
) i n N o t i c e u / s
1 5 6 o f I n c o m e - t a x A c t , a b o v e :
`
4 8 , 0 4 , 0 0 0 / -
Less: Tax already paid
, a s p e r c o l u m n N o . (
d
) i n N o t i c e u / s
1 5 6 o f I n c o m e - t a x A c t , a b o v e : `
2 , 8 4 , 0 0 0 / -
Tax Arrears Payable
u / s 2 ( 1 ) (
o
) (
i
) o f t h e D i r e c t T a x V i v a d S e
V i s h w a s A c t , 2 0 2 0 `
4 5 , 2 0 , 0 0 0 / -
Less: Interest u/s 234B/234C
a s p e r c o l u m n N o . (
b
) i n N o t i c e
u / s 1 5 6 o f I n c o m e T a x A c t , a b o v e , i n r e s p e c t o f d i s p u t e d t a x . `
1 2 , 2 0 , 0 0 0 / -
Disputed Tax u/s 2(1)(j)(B) of the Act `33,00,000/-
Computation of Disputed Tax as per Schedule A annexed to Form 1
(Declaration Form)
S.
No.
PARTICULARS Amount
in INR
A T o t a l i n c o m e a s p e r o r d e r a g a i n s t w h i c h a p p e a l fi l e d
o r t o b e fi l e d
A 1 , 1 5 , 0 0 , 0 0 0
B D i s p u t e d i n c o m e o u t o f A B 1 , 0 0 , 0 0 , 0 0 0
(
i
) R e l a t i n g t o i s s u e s , w h i c h h a v e b e e n d e c i d e d i n f a v o u r
o f a s s e s s e e i n h i s c a s e f o r a n y a s s e s s m e n t y e a r b y
I T A T ( a n d s u c h o r d e r h a s n o t b e e n s u b s e q u e n t l y
r e v e r s e d b y t h e H i g h C o u r t ) o r H i g h C o u r t ( a n d s u c h
o r d e r h a s n o t b e e n s u b s e q u e n t l y R e v e r s e d b y t h e
S u p r e m e C o u r t . )
B (
i
) N I L
Para 4.2
M E A N I N G & C O M P U T A T I O N O F D I S P U T E D T A X
72

18. Case Studies & Procedures Under
Direct Tax Vivad Se
Vishwas Act 2020
Understand the Practical Aspects of the Scheme through Practical
Case Studies Encompassing Real Income-tax Disputes | Updated till
5th October 2020
Author : Mayank Mohanka
Date of Publication : October 2020
Binding : Paperback
Weight (kgs) : 0.335INR 895 | USD 25
Edition : 3rd Edition 2020
ISBN No. : 9789390128723
No. of Pages : 312
Description
The book is a ready-referencer, to assist the assessees and tax practitioners, in under-
standing the legislative provisions and the practicalities of Vivad se Vishwas Act, in a step-by-
step manner. The book also explains the practical aspects of the scheme through practical
case studies encompassing real income-tax disputes. This book will help you make wise,
informed and timely decisions about opting the scheme to settle the tax dispute.
The Present Publication is the 3rd Edition, as amended by the Taxation and Other Laws
(Relaxation and Amendment of Certain Provisions) Act, 2020 & updated till 5th October,
2020. This book incorporates the following:
u All the legislative provisions of the scheme explained with the help of illustrative
case studies
u Covering case-studies on the following issues:
l Scope, Coverage and Eligibility
l Exclusions
l Computation of Tax Arrears
l Computation of Disputed Tax
l Computation of Disputed Interest and Penalty
l Computation of Tax Payable under the Scheme
u Detailed analysis of Operation Clean Money and Demonetisation Cases
u Case studies on long-term capital gain arising from the sale of penny stocks
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