TaxTMI 
TaxTMI 
2010 (2) TMI 154
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....s follows: 3. A scheme was introduced by the respondents in the year 1997 by name Voluntary Disclosure of Income Scheme, 1997. Section 65 of the said scheme provides for a declaration to be made to the Commissioner by the assessee giving particulars. Section 67 of the said scheme provides for payment of interest payable by the assessee while filing a declaration without the payment of tax. The scheme provides for period of three months from the date of declaration for payment of tax. Similarly, section 68 of the said Act provides for grant of certificate by the Commissioner on the application made by the assessee. 4. The assessee filed a declaration under the Voluntary Disclosure of Income Scheme, 1997, on December 29, 1997, disclosin....
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....IT [2003] 259 ITR 1. The hon'ble apex court in the abovesaid decision has observed as follows (page7): "We are of the view that the submissions of the Revenue must be accepted. A plain reading of the provisions of the scheme would show that the tax payable under the scheme 'shall be paid' within the time specified is the general rule provided in section 66, namely, payment prior to the making of a declaration. The exception to this general rule has been carved out by section 67(1) which allows a declarant to file a declaration without paying the tax. This exception, however, is subject to two conditions, viz., (1) the payment of tax within three months from the date of the fling of the declaration together with, (2) the payment of simple....
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....sclosed their income earlier by affording them protection against the possible legal consequences of such non-disclosure under the provisions of the Income-tax Act. Where the assessees seek to claim the benefit under the statutory scheme they are bound to comply strictly with the conditions under which the benefit is granted. There is no scope for the application of any equitable consideration when the statutory provisions of the scheme are stated in such plain language. Seen from the angle of the designated authority, which is created under the scheme, it is clear that the authority cannot act beyond the provisions of the scheme itself. The power to accept payment under the scheme has been prescribed by the statute. There is no sc....
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....ent of the Division Bench of this court and overruled the said judgment by holding that the Scheme being beneficial Scheme and the assessee availing of the benefit under the Scheme is bound by the terms contained therein. In other words, the assessee seeking relief under the Scheme cannot seek extension beyond the period mentioned in the said Scheme. Hence, on consideration of the above legal position, the contention of the learned counsel for the appellant/assessee that delay being one day, the impugned order will have be set aside cannot be accepted. 7. It is a well settled principle of law that between equity and law, courts will have to lean towards law rather than equity. The hon'ble Supreme Court in the judgment reported in Vijay N....