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of <h1>Voluntary Disclosure of Income Scheme 1997 under Section 69 bars reopening of completed tax assessments or claiming set-offs.</h1> Voluntarily disclosed income under the Voluntary Disclosure of Income Scheme, 1997, as per Section 69 of the Finance Act, 1997, does not permit the declarant to reopen any completed assessment or reassessment under the Income-tax Act or the Wealth-tax Act. Additionally, the declarant cannot claim any set-off or relief in any appeal or proceeding related to such assessments or reassessments. This provision ensures that voluntarily disclosed income remains separate from any previously finalized tax assessments.
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