https://www.taxtmi.com/caselaws?id=66214 Amounts deposited under the Voluntary Disclosure of Income and Wealth Act, 1976 could not be retained once the protective individual wealth-tax assessments were cancelled. The Tribunal noted that the declarations and returns were processed under the Wealth-tax Act, 1957, and after annulment of the assessments the Revenue could not deny refund by treating the payments as confined to the disclosure scheme. The sums were refundable as deposits without any surviving demand, or alternatively were first liable to credit and adjustment under section 15(7) of the disclosure statute and then refundable under section 34 of the Wealth-tax Act. Refund was therefore admissible. en-us Sat, 30 Jun 1984 00:00:00 +0530 Tue, 22 Feb 2011 15:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66214 Amounts deposited under the Voluntary Disclosure of Income and Wealth Act, 1976 could not be retained once the protective individual wealth-tax assessments were cancelled. The Tribunal noted that the declarations and returns were processed under the Wealth-tax Act, 1957, and after annulment of the assessments the Revenue could not deny refund by treating the payments as confined to the disclosure scheme. The sums were refundable as deposits without any surviving demand, or alternatively were first liable to credit and adjustment under section 15(7) of the disclosure statute and then refundable under section 34 of the Wealth-tax Act. Refund was therefore admissible. Case-Laws Wealth-tax Sat, 30 Jun 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66214