Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
HC held that the petitioner breached SVLDRS Scheme provisions by failing to deposit the full declared amount within 30 days of FORM SVLDRS-03 issuance. Despite partial payment of Rs. 10 Lakh, the court permitted the petitioner to pay the remaining Rs. 29,56,239/- with 9% interest per annum from 30.06.2020. The respondent authority is authorized to recover the dues from the petitioner's attached bank account. The petition was disposed of, effectively allowing the petitioner to settle the outstanding tax liability under the voluntary disclosure scheme.
HC held that the petitioner breached SVLDRS Scheme provisions by failing to deposit the full declared amount within 30 days of FORM SVLDRS-03 issuance. Despite partial payment of Rs. 10 Lakh, the court permitted the petitioner to pay the remaining Rs. 29,56,239/- with 9% interest per annum from 30.06.2020. The respondent authority is authorized to recover the dues from the petitioner's attached bank account. The petition was disposed of, effectively allowing the petitioner to settle the outstanding tax liability under the voluntary disclosure scheme.
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