2019 (4) TMI 2030 - SCH - Income Tax

Declarations of undisclosed income - Income Declaration Scheme 2016 - extension of time for making payment of the third installment sought - HELD THAT - Leave granted. The appellants were to pay the balance of 50 per cent of the Income Declaration Scheme 2016 by 30.09.2017. However by inadvertence there was a short delay ranging from 9 to 12 days. Given the facts of these cases we find that these are genuine cases and this short period of delay ought to be condoned. Pursuant to our orders dated 04.02.2019 and 07.02.2019 the requisite amount together with interest of 12 per cent per annum has already been deposited. The respondents are directed to accept this amount within a period of one week from today.

Summary

The Supreme Court allowed the appeals in a case related to the Income Declaration Scheme, 2016. The appellants had a short delay in paying the balance, which was deemed genuine and condoned. The respondents were directed to accept the amount deposited with interest within a week.