2019 (5) TMI 153

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....e present appeal relates to filing of declaration under the Voluntary Compliance Encouragement Scheme (VCES) floated w.e.f. 10.05.2013. The assessee filed the declaration under the said Scheme, disclosing tax liability to the extent of Rs. 93,71,419/-. It was rejected by original adjudicating authority. In terms of the said Scheme, 50% of the disclosed income is required to be deposited at the time of filing of declaration. While calculating the said 50% of the demand, the assessee took into consideration the deposits made by them prior to 10.05.2013 i.e. prior to the floating of the Scheme itself. 3. The said declaration was rejected by the lower authorities and on appeal, Commissioner (Appeals), while relying upon the Hon'ble Gujarat H....

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.... disposal by the Hon'ble Supreme Court was based upon incorrect statements made by the parties, a review petition was filed before the Hon'ble Supreme Court and the earlier order of Hon'ble Supreme Court stands recalled, reported in 2016-TIOL-88-SC-ST and the matter is still pending before the Hon'ble Supreme Court. However, he fairly agrees that there is no stay of operation of the Hon'ble Punjab & Haryana's decision in the case of Barnala Builders. 5.1. As regards the second issue, ld. A.R., though agrees that the decision of the Hon'ble Gujarat High Court in the case of Satguru Construction Co. is applicable to the facts of the case, but submits that the same is distinguishable on facts. While drawing our attention to the said decisio....