TaxTMI 
TaxTMI 
2006 (3) TMI 84
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....alachandran, appearing for the petitioners, and standing counsel appearing for the Income-tax Department for the respondents, The petitioners are legal heirs of the original petitioner who is no more. Some landed properties of one Mr. P.O. Kuriakose was acquired by the Government which entitled him for compensation and interest thereon. The land owner died after filing returns for 1994-95 and 1995....
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....on and paid tax under the Voluntary Disclosure of Income Scheme of 1997, his mother, Mrs. Annamma Ouseph filed revision petitions before the Commissioner of Income-tax against the assessments for 1994-95 and 1995-96 contending that the very same income, namely, capital gains assessed in her hands was declared by her son under the Voluntary Disclosure of Income Scheme and so much so, she was entitl....
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....1994-95 and 1995-96 in the hands of Mrs. Annamma Ouseph was declared by her son under the Voluntary Disclosure of Income Scheme. On the other hand, standing counsel for the respondents referred to section 69 of the Finance Act, 1997, which prohibits reopening of any completed assessment based on Voluntary Disclosure of Income Scheme declaration. Against this contention counsel for the petitioner p....
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....aped income in the declaration. Therefore, correction if any possible should have been sought only by asking for cancellation of the certificate issued under the Voluntary Disclosure of Income Scheme. It is not known whether the declarant had furnished details of the amount declared which is not normally done, to identify the amount disclosed as forming part of the income declared and assessed in ....