IDS Liability: Self-Assessment Tax Must Be Adjusted; Form-4 Denial Arbitrary

Vishnu Trimbak Thakur Vs PCIT (Bombay High Court) The writ petition before the Bombay High Court concerned the failure of the tax authorities to issue Form No. 4 under the Income Declaration Scheme, 2016 (IDS), despite the petitioner having ultimately paid the entire tax, surcharge, and penalty payable under the Scheme within the extended time granted by law. The petitioner had originally filed a declaration in Form 1 on 26 September 2016, declaring undisclosed income of ₹3,51,10,300, with a total liability of ₹1,57,99,635 payable in three instalments. While the first two instalments were ...