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of <h1>Voluntary Disclosure Declarations Under Section 71 of Finance Act 1997 Not Admissible as Evidence in Penalty Proceedings</h1> Section 71 of the Finance Act, 1997, under the Voluntary Disclosure of Income Scheme, 1997, states that any declaration made under sub-section (1) of section 64 is not admissible as evidence against the declarant in proceedings related to penalties or prosecutions under the Income-tax Act, the Wealth-tax Act, the Foreign Exchange Regulation Act, 1973, or the Companies Act, 1956. This provision ensures that such declarations cannot be used against the individual in legal proceedings concerning these specific acts.
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