unaccounted cash and subsequently declared
the same under Income-tax Disclosure Scheme - 2016 (IDS).
4 ITA No.5342/Del./2018
Assessee sold the said shares ... said amount of Rs.4,52,000/- under Income-
tax Disclosure Scheme (IDS), 2016, which was accepted by the
Principal Commissioner of Income
during demonetization period stating that the
assessee has filed declaration under IDS Scheme 2016. The assessee
3
ITA No. 1017/JP/2024
Ritika Kumbhat ... IDS Scheme, 2016.
2. It is submitted that , the assesse had filed declaration dated 29/9/2016
under Income Declaration Scheme, 2016 in Form
2016, standing
in different persons names under Income Disclosure Scheme
(IDS), 2016. Such disclosure was made on 30.09.2016 i.e.
before initiation of any kind ... name have been declared to Income Tax
Department under IDS, 2016 scheme and all due taxes arising
on income earned from such transactions has been
IDS
Scheme tax paid in the form of Advance tax, Self
Assessment tax prior to IDS Scheme (i.e. 1st June
2016) are not allowed ... IDS, 2016. Only such powers
vested by the IDS, 2016 can be exercised by the respondent in respect of issues
under the IDS, 2016
IDS
Scheme tax paid in the form of Advance tax, Self
Assessment tax prior to IDS Scheme (i.e. 1st June
2016) are not allowed ... IDS, 2016. Only such powers
vested by the IDS, 2016 can be exercised by the respondent in respect of issues
under the IDS, 2016
erred in having linked the amount disclosed under
the Income Disclosure Scheme, 2016 surrendered by M/s Parthiba Holding Pvt. Ltd. with the
donation ... amount donated to assessee (Rs.50
lakhs) under the Income Disclosure Scheme 2016 (IDS Scheme 2016). Thus, from the
aforesaid discussion, we note that
from the assessee regarding the income declared by the
assessee under IDS, Scheme 2016 but inquiries were made to explain the
source of interest income ... bank account in addition to
the amount disclosed in the IDS scheme, 2016. Based on these arguments
the ld. DR supported the order
submitted that he had disclosed 44.90 Kgs of Gold under IDS scheme
2016. As per assessee's submission, assessee had declared gold ... stock.
III. The assessee had disclosed 44.90 kg of gold under IDS scheme
2016 valued at 12.76 Cr. The assessee converted the same into stock
within the time limit provided under the Scheme. As
per the IDS 2016 Scheme, the income is liable to be charged ... 115BBE of
the Act, as the taxes admitted under the IDS,2016 Scheme not paid
by the assessee.
2.1. The assessee made reply vide letter
days mentioning that the she availed the benefit of
Income Disclosure Scheme (IDS) 2016 and declared her
undisclosed income under that scheme and paid ... declared as income of Rs. 14,84,830/-under Income
Disclosure Scheme (IDS) 2016 and payment
ofRs.6,68,173/-taxes thereon and certificate also
