Declaration of higher income before 31-3-86 for earlier assessment year-Liability of penalty under section 10 of Compulsory Deposit Scheme (Income-tax Payers) Act, 1974-Clarification regarding

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....ayers) Act, 1974-Clarification regarding Circular No.456 Dated 22/5/1986 The reference is invited to the Board's Circular No. 450 (File No. 225/13/86-ITA. II) dated February 13, 1986,* whereby it was declared that where in response to the amnesty circular issued by the Board, higher income is declared suo motu before March 31, 1986, pertaining to the assessment year 1985-86 or earlier assessmen....