Compulsory Deposit Scheme (Income-tax Payers) Act, 1974-Deposits after March 31, 1985, in respect of income declared for assessment year 1985-86 and earlier assessment years-Clarification-Regarding

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....d earlier assessment years-Clarification-Regarding Circular No.457 Dated 30/5/1986 To All Chief Commissioners (Admn.) and Commissioner of Income-tax. Sir, Subject: Compulsory Deposit Scheme (Income-tax Payers) Act, 1974-Deposits after March 31, 1985, in respect of income declared for assessment year 1985-86 and earlier assessment years-Clarification-Regarding. Reference is invited to the....

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....5. However, the question whether the depositor is liable to a penalty under section 10 of the Compulsory Deposit Scheme (Income-tax Payers) Act will be decided by the Income-tax Officers." 3. Representations have been received to the effect that where the income is declared for the assessment year 1985-86 or earlier assessment years in response to the amnesty circulars issued by the Board and the....