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2008 (6) TMI 345 - HC - Income TaxVoluntary disclosure – The assessee filed a declaration under the voluntary disclosure of Income Scheme, 1997, disclosing income of Rs. 34,50,000 on which a sum of Rs. 3,35,000 was paid towards tax on December 8, 1997. The balance amount of Rs. 7,00,000 towards tax and Rs. 42,000 towards interest was paid only on March 26, 1998. The Commissioner of Income Tax accepted the declaration only for the amount of Rs. 3,35,000 paid towards tax since the balance payment was made beyond the statutorily prescribed period of three months from the date of declaration. The assessee contested the non-issue of certificate for the full amount disclosed. Held that- the certificate for the full amount disclosed under the voluntary disclosure of Income Scheme, 1997 could not be granted. The assessee was not entitled to the benefit of the Scheme since the payments made by the assessee were not in terms of the scheme. The revenue authorities were directed to refund or adjust the amounts already deposited by the assessee in compliance with the provision of the scheme to the assessee.
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