Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
HC upheld the reopening of assessment u/s 147 and declined to quash the notice u/s 143(2). It held that under the Voluntary Disclosure of Income Scheme, 1997, the declarant is protected only from enquiry into the source of income, not from scrutiny of the correctness or completeness of the income disclosed. If higher income comes to the department's notice, the Scheme does not mandate acceptance of the declared figure. Alleged violation of Instruction No. 1984 was rejected as the instructions were prospective and issued after the impugned notice. The writ petition was dismissed, leaving the assessee to raise all objections before the AO and avail the statutory appellate remedies.
HC upheld the reopening of assessment u/s 147 and declined to quash the notice u/s 143(2). It held that under the Voluntary Disclosure of Income Scheme, 1997, the declarant is protected only from enquiry into the source of income, not from scrutiny of the correctness or completeness of the income disclosed. If higher income comes to the department's notice, the Scheme does not mandate acceptance of the declared figure. Alleged violation of Instruction No. 1984 was rejected as the instructions were prospective and issued after the impugned notice. The writ petition was dismissed, leaving the assessee to raise all objections before the AO and avail the statutory appellate remedies.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
