30 April 2020
My client was assessed u/s. 144 r.w.s 147. Appeal was filed before CIT (A) before 31.01.2020. After filing appeal assessee was paid 20% of demand and applied for stay till disposal of appeal. However, AO has passed the penalty order u/s. 271(1)(c) which was not delivered to assessee. Assessee has not filed appeal against the penalty order.
Assessee now filed Form 1 & 2 under VSV for disputed tax. What will be the effect of penalty order u/s. 271(1)(c) passed by AO. Since interest and penalty will be waived off if disputed tax is paid, whether the penalty order will sustain?
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