Disclosure immunity extended: voluntary disclosure and prompt tax payment grant immunity from penalty and prosecution, late filing excluded. Amnesty extended to September 30, 1986 for disclosures relating to assessment year 1986-87 or earlier; disclosure of true income and wealth in returns and prompt payment of taxes due under section 140A of the Income-tax Act and/or section 15B of the Wealth-tax Act grants immunity from penalty and prosecution, but immunity does not cover penal consequences of late filing where the return is not filed by the due date under section 139(1) of the Income-tax Act or section 14(1) of the Wealth-tax Act.
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.
Disclosure immunity extended: voluntary disclosure and prompt tax payment grant immunity from penalty and prosecution, late filing excluded.
Amnesty extended to September 30, 1986 for disclosures relating to assessment year 1986-87 or earlier; disclosure of true income and wealth in returns and prompt payment of taxes due under section 140A of the Income-tax Act and/or section 15B of the Wealth-tax Act grants immunity from penalty and prosecution, but immunity does not cover penal consequences of late filing where the return is not filed by the due date under section 139(1) of the Income-tax Act or section 14(1) of the Wealth-tax Act.
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