1997 (10) TMI 61

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.... the petitioner, strenuously submitted that the provisions of sections 62 to 68, Finance Act, 1997, provide for voluntary disclosure of income by any person ; and if a search and seizure of the premises of a person/assessee is conducted, the said person/assessee is not entitled for the benefit of the Voluntary Disclosure of Income Scheme (hereinafter referred to as "the Scheme"), and, therefore, he would submit that till the expiry of the period fixed in the scheme, i.e, December 31, 1997, it must be held by implication that the power conferred on the authorities to search the business premises or residential premises of a person/assessee as provided under section 132 of the Act is kept in abeyance or deemed to have been suspended. In other....

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....rsons/assessees, who intended to take advantage of the scheme, must comply with the conditions or terms of the scheme. Therefore, merely because the scheme provides that the benefit of the scheme is not available to such of the persons, whose premises have been searched, that cannot be a ground to take the view that the power of search and seizure conferred on the authorities under section 132 of the Act is either impliedly taken away or suspended till the expiry of the last date fixed for expiry of the scheme. When Parliament has made an amendment to the Act providing for the scheme and imposing certain conditions to avail of the benefit of the scheme, it must be held that Parliament was fully aware and conscious of the provisions of secti....