If a declaration of undisclosed income is made under the Scheme and the same was found ineligible due to the reasons listed in section 196 of the Finance Act, 2016, then will the person be liable for consequences under section 197(c) of the Finance Act, 2?

If a declaration of undisclosed income is made under the Scheme and the same was found ineligible due to the reasons listed in section 196 of the Finance Act, 2016, then will the person be liable for consequences under section 197(c) of the Finance Act, 2? https://www.taxtmi.com/manuals?id=4365 Declarations of undisclosed income under the Income Declaration Scheme found ineligible due to disqualifying grounds are not subject to the scheme's specific penalty provision, but such income may be assessed under the normal provisions of the Income-tax Act. en-us Thu, 28 Dec 2023 14:55:00 +0530 Fri, 05 Jan 2024 15:20:00 +0530 TaxTMI RSS Generator If a declaration of undisclosed income is made under the Scheme and the same was found ineligible due to the reasons listed in section 196 of the Finance Act, 2016, then will the person be liable for consequences under section 197(c) of the Finance Act, 2? https://www.taxtmi.com/manuals?id=4365 Declarations of undisclosed income under the Income Declaration Scheme found ineligible due to disqualifying grounds are not subject to the scheme's specific penalty provision, but such income may be assessed under the normal provisions of the Income-tax Act. Manuals Income Tax Thu, 28 Dec 2023 14:55:00 +0530 https://www.taxtmi.com/manuals?id=4365