Voluntary disclosure of income secures immunity for disclosed amounts if procedural conditions and investment requirements are met. Entries in Form A column 6 must show the extent to which voluntarily disclosed income is represented by assets and must total the declared income; appreciation need not be declared. The Ordinance's immunities attach only to the voluntarily disclosed income. Section 3(1) declarations are permitted where no seizure occurred during a search, but where a seizure led to an officer's computation after search, disclosures for those years must proceed under the alternate procedure in section 14(1). A factual certificate under section 8(2) is issued only after full tax payment and required investment in notified securities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Voluntary disclosure of income secures immunity for disclosed amounts if procedural conditions and investment requirements are met.
Entries in Form A column 6 must show the extent to which voluntarily disclosed income is represented by assets and must total the declared income; appreciation need not be declared. The Ordinance's immunities attach only to the voluntarily disclosed income. Section 3(1) declarations are permitted where no seizure occurred during a search, but where a seizure led to an officer's computation after search, disclosures for those years must proceed under the alternate procedure in section 14(1). A factual certificate under section 8(2) is issued only after full tax payment and required investment in notified securities.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
