20 March 2020
Dear Experts my client has received notice on Aug 2019 for transaction in penny script . Despite giving sufficient reasons that broker had told him to transact in particular script in FY 11-12 The AO had passed order by adding entire transaction to his income and with interest it came to Rs 1 lakh. Now his former consultant had not filed appeal and it became time barred now if I file the Appeal case and is there chances that CIT(A) will approve my condonation . The only concern is to go for Vivad se viswas scheme which covers penny script transactions as well. My question is my appeal not pending as on 31.01.2020 I am filing appeal now and it will not be a case of deemed appeal as well so can I file appeal and VSV will work for me. Thanks in advance.
CAclubindia
