Section 15(1)(b) in The Voluntary Disclosure Of Income And Wealth Act, 1976

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Union of India - Subsection

Section 15(1)(b) in The Voluntary Disclosure Of Income And Wealth Act, 1976

(b)the value of the. assets which has not been disclosed, or the value of the assets which has been understated, in any return of net wealth for any assessment year, then, notwithstanding anything contained in that Act, the net wealth, or, as the case may be, the value so declared shall not be taken into account for the purposes of any proceedings relating to imposition of penalty on the person making the declaration under this sub-section (hereafter in this section referred to as the declarant) or for the purposes of the prosecution of the declarant under that Act:

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Union of India - Subsection

Section 15(1)(b) in The Voluntary Disclosure Of Income And Wealth Act, 1976