Allowing the petition the Court held that ; under Income Declaration Scheme, 2016, assessee disclosed undisclosed income of Rs. 29,15,156 for assessment year 2014-15 determining total tax payable (including penalty) thereon at Rs. 13,12,271 and paid first instalment amounting to Rs. 3,28,068 . Case of assessee was selected for scrutiny for said assessment year 2014-15 and notice under section 143(2) was already issued . As a result revenue rejected assessee’s application under Disclosure Scheme . Accordingly the revenue was to be directed to adjust amount which had been deposited by assessee . ( AY.2014-15)
Sangeeta Agrawal (Smt.) v. PCIT (2018) 409 ITR 254/ 257 Taxman 263/ 304 CTR 330 / 169 DTR 169 (MP)(HC) Editorial: SLP of revenue is dismissed , PCIT v. Sangeeta Agrawal (Smt.) ( 2019) 262 Taxman 165 (SC)
Income Declaration Scheme, 2016 – Finance Act, 2016
S. 183 : Refund of tax- Adjustment of tax paid under the schme against tax payable on regular assessment -Tax in respect of voluntarily disclosed income not refundable –Application was rejected on the ground that notice u/s 143(2) was already issued – Revenue was to be directed to adjust amount which had been deposited by assessee for the tax liability for the Asst year 2014-15 . [ S.191 ]