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Income Disclosed under VDIS cannot Be combined with Regular Income
Case Law Details
- Case Name
- Subhash Chandra Vs CIT (Madhya Pradesh High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madhya Pradesh HC
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Subhash Chandra Vs CIT (Madhya Pradesh High Court)
In the present case, the petitioner has first availed the benefit of VDIS by submitting the return 01.07.1997 and 3 1.12.1997 for the assessment year 1993-94 to 1997-98 and paid the income-tax @ 30%. Thereafter, he filed the belated IT returns under Section 139 on 01.1998 and deducted income so disclosed in VDIS i.e. voluntary disclose income.
For the assessment year 1993-94 to 1997-98, he has declared his income Rs.13,74,947/- with the description of assets i.e. cash, debtor, share and bank account and paid income tax Rs. 4,1...
