https://www.taxtmi.com/caselaws?id=29570 The High Court upheld the Tribunal's decision, confirming the validity of initiating proceedings under s. 17 of the Wealth-tax Act based on voluntary disclosure under s. 68 of the Finance Act, 1965. The Court ruled in favor of the revenue, affirming the Wealth-tax Officer's jurisdiction to initiate such proceedings and the assessee's liability for wealth-tax despite payment under the Voluntary Disclosure Scheme. The Court emphasized that the disclosure under s. 68 did not absolve the assessee from wealth-tax liability, maintaining that the initiation of proceedings was not solely reliant on the disclosure petition under s. 68. en-us Sat, 05 Jan 1980 00:00:00 +0530 Sat, 13 Mar 2010 17:35:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29570 The High Court upheld the Tribunal's decision, confirming the validity of initiating proceedings under s. 17 of the Wealth-tax Act based on voluntary disclosure under s. 68 of the Finance Act, 1965. The Court ruled in favor of the revenue, affirming the Wealth-tax Officer's jurisdiction to initiate such proceedings and the assessee's liability for wealth-tax despite payment under the Voluntary Disclosure Scheme. The Court emphasized that the disclosure under s. 68 did not absolve the assessee from wealth-tax liability, maintaining that the initiation of proceedings was not solely reliant on the disclosure petition under s. 68. Case-Laws Wealth-tax Sat, 05 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29570