https://www.taxtmi.com/caselaws?id=450887 Once Form 4 is issued under the Income Declaration Scheme in relation to declared income, that income is treated as regularised for the Scheme's purposes. A reassessment based on the very same declared amount lacks an independent basis for alleging escapement of income, so notices under sections 148 and 148A of the Income-tax Act, 1961, and related demand and penalty proceedings cannot be sustained. Where the Revenue accepts issuance of Form 4 for the declared amount, proceedings founded on that amount are without jurisdiction and liable to be quashed. en-us Mon, 11 Mar 2024 00:00:00 +0530 Fri, 09 Jan 2026 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450887 Once Form 4 is issued under the Income Declaration Scheme in relation to declared income, that income is treated as regularised for the Scheme's purposes. A reassessment based on the very same declared amount lacks an independent basis for alleging escapement of income, so notices under sections 148 and 148A of the Income-tax Act, 1961, and related demand and penalty proceedings cannot be sustained. Where the Revenue accepts issuance of Form 4 for the declared amount, proceedings founded on that amount are without jurisdiction and liable to be quashed. Case-Laws Income Tax Mon, 11 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450887