Assessee can adjust Income Tax paid under Income Declaration Scheme, 2016 with Tax payable If his Application was rejected: Supreme Court reverses HCs Decision [Read Order]

By Taxscan Team - On February 16, 2022 2:01 pm - 2 mins read
Supreme Court - Assessee - Income Tax - Income Declaration Scheme - tax - SC reverses - High Court - taxscan

The Supreme Court while reversing the High Court’s Order has ruled that the assessee can adjust Income Tax paid under Income Declaration Scheme, 2016 with tax payable if his application was rejected. The assessee made a declaration of an undisclosed income of a certain amount divided into three years 2011, 2015 and 2016 under the…

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