https://www.taxtmi.com/caselaws?id=37235 The court affirmed the Tribunal's decision, upholding the addition of Rs. 28,100 as income from undisclosed sources in the assessee's books for the assessment year 1967-68. The court held that voluntary disclosure under the Finance (No. 2) Act, 1965 did not grant immunity to the assessee, allowing the revenue to independently investigate the capacity of creditors to advance money. The court concluded that voluntary disclosure certificates are not final or immune from scrutiny in subsequent proceedings, and the revenue can require proof of the declarant's capacity to earn the disclosed income. The decision favored the revenue department and awarded costs to the Commissioner. en-us Wed, 04 Jul 1979 00:00:00 +0530 Sat, 27 Mar 2010 15:46:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37235 The court affirmed the Tribunal's decision, upholding the addition of Rs. 28,100 as income from undisclosed sources in the assessee's books for the assessment year 1967-68. The court held that voluntary disclosure under the Finance (No. 2) Act, 1965 did not grant immunity to the assessee, allowing the revenue to independently investigate the capacity of creditors to advance money. The court concluded that voluntary disclosure certificates are not final or immune from scrutiny in subsequent proceedings, and the revenue can require proof of the declarant's capacity to earn the disclosed income. The decision favored the revenue department and awarded costs to the Commissioner. Case-Laws Income Tax Wed, 04 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37235