https://www.taxtmi.com/caselaws?id=465814 The Bombay HC noted that declarations under the Income Declaration Scheme, 2016 had to be acted upon in accordance with the IDS Rules by giving credit for amounts already paid, including advance tax and self-assessment tax, and issuing Form 4 within four weeks. On that basis, the consequential assessment orders, demand notice, and penalty notice could not survive and were quashed. The petitions were accordingly disposed of by granting the substantive relief sought under the Scheme and setting aside the adverse orders. en-us Wed, 03 Apr 2024 00:00:00 +0530 Fri, 09 Jan 2026 19:03:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465814 The Bombay HC noted that declarations under the Income Declaration Scheme, 2016 had to be acted upon in accordance with the IDS Rules by giving credit for amounts already paid, including advance tax and self-assessment tax, and issuing Form 4 within four weeks. On that basis, the consequential assessment orders, demand notice, and penalty notice could not survive and were quashed. The petitions were accordingly disposed of by granting the substantive relief sought under the Scheme and setting aside the adverse orders. Case-Laws Income Tax Wed, 03 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465814