https://www.taxtmi.com/caselaws?id=36770 A declaration under the voluntary disclosure scheme taxed only the declarant and created a limited legal fiction; it did not determine ownership of the income for assessment proceedings against another person. The court stated that, absent any express exclusion, the Revenue could still examine the assessee's explanation for cash credits under section 68 of the Income-tax Act, 1961, and treat unsatisfactory credits as the assessee's income. Payment of tax by the creditors under the scheme therefore did not bar addition of the corresponding cash credits in the assessee's assessment. en-us Fri, 13 Jul 1979 00:00:00 +0530 Wed, 24 Mar 2010 13:31:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36770 A declaration under the voluntary disclosure scheme taxed only the declarant and created a limited legal fiction; it did not determine ownership of the income for assessment proceedings against another person. The court stated that, absent any express exclusion, the Revenue could still examine the assessee's explanation for cash credits under section 68 of the Income-tax Act, 1961, and treat unsatisfactory credits as the assessee's income. Payment of tax by the creditors under the scheme therefore did not bar addition of the corresponding cash credits in the assessee's assessment. Case-Laws Income Tax Fri, 13 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36770