Procedure for Voluntary Disclosure of Tax Deficiency u/s 87(6) of the DVAT Act 2004.

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..... sure of Tax Deficiency u/s 87(6) of the DVAT Act 2004. 1. Section 87(6) provides for automatic mitigation of penalties and reads as under: "If- a person is liable to pay penalty under section 86 of this Act: and b. the person voluntarily discloses to the Commissioner, in writing, the existence of the tax deficiency, during the course of proceedings under section 60: and c. makes payment of su .....

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..... r all the dealers shall be a quarter subjected to sub-rule (2) of rule 26. Further, under Rule 2(3)(d) "quarter" means the periods of three calendar months- (i) April 1 to June 30; (ii) July 1 to September 30; (iii) October 1 to December 31; and (iv) January 1 to March 31. 4. To avail the benefits of automatic mitigation of penalty u/s 87(6), the dealer can admit the amount of cash variation, .....

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..... entry in the book of account shall file revised return u/s 28 of the DVAT Act, for the earlier tax periods in which un-vouched/unaccounted sale is admitted. 7. In such a scenario the need for default assessment of the dealer consequent to survey will not exist if the Assessing Officer (Enforcement) is satisfied with the revised return. This issues with the prior approval of Commissioner, Value .....

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