Income Disclosed under VDIS cannot Be combined with Regular Income

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. 4,12,482/- on 26.12....