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2005 (6) TMI 22 - HC - Income TaxPetitioners under the Voluntary Disclosure Scheme, 1997 had filed a declaration, disclosing an income of Rs. 10 lakhs. - The basic dispute in the above petition is that the entire tax liability was not paid within a period of three months as contemplated under the Scheme - Shri Rao, learned counsel for the respondent states that the respondent has already adjusted Rs. 1,03,000, paid within three months, towards various tax liability of the petitioners. Shri Rao could not controvert that the settlement officer has made it abundantly clear that any amount paid after 90 days cannot be accepted under the Scheme, hence the balance amount will have to be refunded back to the assessee - we direct the respondent to refund the said sum of Rs. 2,66,000 which was paid by the assessee to the respondent beyond the period of 90 days under the Scheme, subject to the petitioner producing necessary proof of such payments. The aforesaid amount shall be refunded within a period of 8 weeks from today and if the respondent fails to do so the respondent shall pay interest at the rate of 9 per cent, per annum after the period of 8 weeks.
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