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2016 (7) TMI 194 - HC - Income TaxBenefit of Voluntary Disclosure of Income Scheme (VDIS) - Held that:- The issue involved in this matter is squarely covered by the decision in case of Nitin P. Shah alias Modi v. Deputy Commissioner of Income Tax [2004 (12) TMI 64 - GUJARAT High Court ] where this Hon'ble Court has held that the certificate issued under Section 68 (2), cannot be cancelled or revoked. Identical issue was also raised before the Hon'ble High Court of Allahabad in case of Bhagwat Prasad v. Commissioner of IncomeTax (2003 (4) TMI 63 - ALLAHABAD High Court ) wherein it has been held that once a valid certificate had been granted to the petitioner by the CIT under the VDIS 1997, he was entitled to the immunity under Section 68 of the Finance Act, 1997 and the impugned proceedings under Section 158BD taken against the petitioner were illegal. - Decided in favour of assessee
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