https://www.taxtmi.com/caselaws?id=20590 A declarant under the Voluntary Disclosure of Income and Wealth Ordinance, 1975 is bound by the value stated in the declaration for the same disclosed asset. Where jewellery was voluntarily disclosed and tax was paid on that declared value, the assessee could not later insist on a lower valuation in wealth-tax assessment by relying on an earlier valuer's report. Allowing a revised lower figure would defeat the scheme's purpose and could produce an unintended refund. The disclosed valuation therefore remained operative for assessment purposes, while any dispute over the declaration itself would have to be dealt with according to law. en-us Thu, 14 Feb 1991 00:00:00 +0530 Sat, 14 Nov 2009 18:25:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20590 A declarant under the Voluntary Disclosure of Income and Wealth Ordinance, 1975 is bound by the value stated in the declaration for the same disclosed asset. Where jewellery was voluntarily disclosed and tax was paid on that declared value, the assessee could not later insist on a lower valuation in wealth-tax assessment by relying on an earlier valuer's report. Allowing a revised lower figure would defeat the scheme's purpose and could produce an unintended refund. The disclosed valuation therefore remained operative for assessment purposes, while any dispute over the declaration itself would have to be dealt with according to law. Case-Laws Wealth-tax Thu, 14 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20590