Immunity under Income Declaration Scheme available only to declarant: SC

DCIT Vs M. R. Shah Logistics Pvt. Ltd. (Supreme Court of India)

Income Declaration Scheme (IDS), introduced by Chapter IX of the Finance Act, 2016. The objective of its provisions was to enable an assessee to declare her (or his) suppressed undisclosed income or properties acquired through such income. It is based on voluntary disclosure of untaxed income and the assessee’s acknowledging income tax liability. This disclosure is through a declaration (Section 183) to the Principal Commissioner of Income Tax

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