JUDGMENT :

1. All these petitions arise out of a common background. They have been heard together and would be disposed of by this common judgment. Facts being substantially similar may be recorded from writ petition No. 4178/2021. Petitioner is an individual and is engaged in the business of manufacturing and trading of textile articles and also in the business of share and derivative trading. For the assessment year 2014-15 the assessee had filed the return of income on 30.11.2014 declaring total income of Rs.4,22,850/-.This included a short term capital gain of Rs.27,960/-. The revenue authorities were of the opinion that petitioner's speculative and non-speculative transactions were required to be calculated separately and the turn over of the assessee was more than the threshold limit prescribed for compulsory audit under Section 44AB of the Income Tax Act, 1961 (for short ' the Act') still the assessee had not filed the audit report. With respect to the declared income the revenue had no dispute. However on account of above noted breach, proceedings for penalty under Section 271B under the Act were initiated. This culminated into a penalty order dated 26.06.2018 passed by the assessing officer imposing the penalty of Rs.1,50,000/-. The assessee's appeal was dismissed by the CIT (appeals) on 07.05.2019. Against this order the assessee had filed the appeal before Income Tax Appellate Tribunal on 09.12.2020. Along with the appeal the assessee had also filed an application for condonation of delay. The delay was condoned by the tribunal by an order dated 28.01.2021.

2. In the meantime the legislature framed the direct tax Vivad se Vishwas Scheme, 2020. It was brought into effect from 17.03.2020. This act contains provisions for settlement of pending direct tax disputes. The term appellant has been defined under Section 2(1)(a) which reads as under:-

"(a) "appellant" means--

(i) a person in whose case an appeal or a writ petition or special leave petition has been filed either by him or by the income-tax authority or by both, before an appellate forum and such appeal or petition is pending as on the specified date;

(ii) a person in whose case an order has been passed by the Assessing officer, or an order has been passed by the Commissioner (Appeals) or the Income Tax Appellate Tribunal in an appeal, or by the High Court in a writ petition, on or before the specified date, and the time for filing any appeal or special leave petition against such order by that person has not expired as on that date;

(iii) a person who has filed his objections before the Dispute Resolution Panel under section 144C of the Income-tax Act, 1961 and the Dispute Resolution Panel has not issued any direction on or before the specified date;

(iv) a person in whose case the Dispute Resolution Panel has issued direction under sub-section (5) of section 144C of the Income-tax act and the Assessing officer has not passed any order under sub-section (13) of that section on or before the specified date;

(v) a person who has filed an application for revision under section 264 of the Income-tax Act and such application is pending as on the specified date;"

3. The term "declarant" has been defined in Section 2(1)(c) of the Act as to mean a person who files declaration under Section 4. The term "disputed penalty" is defined under Section 2(1)(i) as to mean penalty determined in any case under the provisions of the Income Tax Act, 1961 where--

(i) such penalty is not levied or leviable in respect of disputed income of disputed tax, as the case may be;

and

(ii) an appeal has been filed by the appellant in respect of such penalty.

4. The specified date means 31st day of January, 2020 as per Section 2(n).

5. The term "tax arrear" has been defined in Section 2(1)(o) as to mean the aggregate amount of disputed tax, interest chargeable or charged on such disputed tax and penalty levied or leviable on such disputed tax or disputed interest or disputed penalty or disputed fee as deter