https://www.taxtmi.com/caselaws?id=760485 The ITAT Mumbai held in favor of the assessee regarding Income Declaration Scheme-2016 compliance. The assessee declared undisclosed income for multiple assessment years but defaulted on the third installment payment by the original deadline of 30.09.2017. However, a subsequent government notification dated 13.02.2019 retrospectively extended the payment deadline to 31.01.2020 with 1% monthly interest. Since the assessee paid the balance amount with interest as per this extended timeline, the ITAT ruled that the default was rectified retrospectively, overturning the CIT(A)'s decision against the assessee. en-us Thu, 17 Oct 2024 00:00:00 +0530 Tue, 22 Oct 2024 08:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760485 The ITAT Mumbai held in favor of the assessee regarding Income Declaration Scheme-2016 compliance. The assessee declared undisclosed income for multiple assessment years but defaulted on the third installment payment by the original deadline of 30.09.2017. However, a subsequent government notification dated 13.02.2019 retrospectively extended the payment deadline to 31.01.2020 with 1% monthly interest. Since the assessee paid the balance amount with interest as per this extended timeline, the ITAT ruled that the default was rectified retrospectively, overturning the CIT(A)'s decision against the assessee. Case-Laws Income Tax Thu, 17 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760485