https://www.taxtmi.com/caselaws?id=5876 Immunity under the Voluntary Disclosure Scheme was confined to the declarant and could not be extended to a third-party assessee. Credits found in the assessee's books remained examinable under section 68 of the Income-tax Act, and unexplained amounts could be treated as income from undisclosed sources if no satisfactory explanation was offered. The provision granting immunity was also not treated as overriding section 68, and the contention of double taxation was rejected. The assessment position in favour of the Revenue was restored. en-us Wed, 10 Aug 1983 00:00:00 +0530 Fri, 28 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5876 Immunity under the Voluntary Disclosure Scheme was confined to the declarant and could not be extended to a third-party assessee. Credits found in the assessee's books remained examinable under section 68 of the Income-tax Act, and unexplained amounts could be treated as income from undisclosed sources if no satisfactory explanation was offered. The provision granting immunity was also not treated as overriding section 68, and the contention of double taxation was rejected. The assessment position in favour of the Revenue was restored. Case-Laws Income Tax Wed, 10 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5876