{"id":264764,"date":"2022-03-31T12:00:06","date_gmt":"2022-03-31T06:30:06","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=264764"},"modified":"2022-04-01T08:44:59","modified_gmt":"2022-04-01T03:14:59","slug":"declaration-under-the-income-declaration-scheme-cannot-lead-to-non-declarants-immunity-from-taxation-sc","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/31\/declaration-under-the-income-declaration-scheme-cannot-lead-to-non-declarants-immunity-from-taxation-sc\/","title":{"rendered":"Declaration under the Income Declaration Scheme cannot lead to non-declarant’s immunity from taxation: SC"},"content":{"rendered":"

Supreme Court<\/strong>: The bench of UU Lalit and S. Ravindra Bhat<\/strong>*, JJ has held that the declaration under the Income Declaration Scheme (IDS) cannot lead to immunity from taxation in the hands of a non-declarant.<\/p>\n

The Court explained that the objective of Income Declaration Scheme (IDS), introduced by Chapter IX of the Finance Act, 2016, 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\u2019s acknowledging income tax liability. This disclosure is through a declaration (Section 183 of the Income Tax Act) to the Principal Commissioner of Income Tax within a time period, and deposit the prescribed amount towards income tax and other stipulated amounts, including penalty.<\/p>\n

Facially, Section 192 of the Income Tax Act affords immunity to the declarant: \u201c…nothing contained in any declaration made under section 183 shall be admissible in evidence against the declarant for the purpose of any proceeding relating to imposition of penalty\u2026\u201d<\/em> Therefore, the protection given, is to the declarant, and for a limited purpose.<\/p>\n

The assessee, in the case at hand, is a private limited company and had filed return of income for the AY 2010-11 on 25.9.2010. The return was accepted under section 143(1) of the Act without scrutiny.<\/p>\n

The assessment was re-opened after search proceedings conducted in the case of one Shirish Chandrakant Shah, an accommodation entry provider in Mumbai, it was observed that huge amounts of unaccounted moneys of promoters\/directors were introduced in closely held companies of the assessee\u2019s group.<\/p>\n

Further, the reasons to believe also stated that the chairman of M.R. Shah Group, during the statement- recorded under Section 132(4), disclosed that Garg Logistics Pvt. Ltd. had declared \u20b9 6.36 crores as undisclosed cash utilized for investment in the share capital of the assessee, M.R. Shah Logistics Pvt. Ltd. through various companies. The assessee company\u2019s chairman voluntarily \u00a0disclosed the statements made by Garg Logistics under Section 132 of the Act, about the declaration by Garg Logistics P Ltd, under the Income Declaration Scheme (IDS).<\/p>\n

It can be seen that in the present case, the declarant was Garg Logistic Pvt Ltd and not the assessee. The Court, hence, held that the assessee could not claim immunity in the present case.<\/p>\n

[Deputy Commissioner of Income Tax v. M. R. Shah Logistics Pvt. Ltd., 2022 SCC OnLine SC 365<\/b><\/a>, decided on 28.03.2022]<\/p>\n

\n

*Judgment by: Justice S. Ravindra Bhat<\/h4>\n
\n

For Assessee: Advocate Guru Krishnakumar<\/p>\n","protected":false},"excerpt":{"rendered":"

Supreme Court: The bench of UU Lalit and S. 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Income Tax Act, 1961 is applicable to dividend income on which tax is payable under Section 115-O of the Act","author":"Prachi Bhardwaj","date":"May 8, 2017","format":false,"excerpt":"Supreme Court: Answering the question as to whether the phrase \u201cincome which does not form part of total income under this Act\u201d appearing in Section 14A of the Income Tax Act, 1961 includes within its scope dividend income on shares in respect of which tax is payable under Section 115-O\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, 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Double Taxation Avoidance Agreement (DTAA) and the Income Tax Act and clarified the distinction between income from subscription fees and payments for intellectual property rights or technical consultancy services.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Delhi High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Delhi-High-Court.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Delhi-High-Court.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Delhi-High-Court.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Delhi-High-Court.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":126461,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/04\/23\/date-for-filing-of-declaration-under-pmgky-extended\/","url_meta":{"origin":264764,"position":5},"title":"Date for filing of declaration under PMGKY extended","author":"Saba","date":"April 23, 2017","format":false,"excerpt":"The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana,2016 (PMGKY) had commenced on 17th December, 2016 and was open for declarations up to 31st March, 2017. \u00a0Representations from stakeholders have been received stating that in some cases tax, surcharge and penalty have been paid on or before 31st\u2026","rel":"","context":"In "Hot Off The Press"","block_context":{"text":"Hot Off The 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