Law: Income Tax Act, 1961

Section: 132

Sections 62 of the Finance Act, 1997 - Voluntary Disclosure of Income Scheme, 1997 - Constitutional validity of - Whether in view of Attorney Generals statement indicating Governments policy in checking tax evasion, of High Court upholding constitutional validity of said scheme needed no interference - Held, yes FACTS The petitioners filed a Special Leave Petition against the of the Bombay High Court in All India Federation of Tax Practitioners v. Union of India[1997] 228 ITR 68, which upheld the constitutional validity of the Voluntary Disclosure of Income Scheme, 1997. HELD The High Court in an elaborate had dealt with the various submissions made assailing the constitutional validity of the scheme. The Attorney General had placed a statement indicating the policy the Government was following and would be following in checking tax evasion. Taking into consideration the statement made by the Attorney General, it was to be held that the impugned of the High Court needed no interference. The Special Leave Petition was, therefore, dismissed. CASE REVIEW All India Federation of Tax Practitioners v. Union of India [1997] 228 ITR 68/ 93 Taxman 737 (Bom.), affirmed. JUDGMENT 1. In this special leave petition filed against the judgment of the Bombay High Court in All India Federation of Tax Practitioners v. Union of India [1997]228 ITR 68/ 93 Taxman 737 , the petitioners are seeking to challenge the validity of the Voluntary Disclosure of Income Scheme, 1997 (VDIS). The High Court in an elaborate judgment has dealt with the various submissions made assailing the constitutional validity of the Scheme. We are in agreement with the said view of the High Court. 2. We have heard Shri Dinesh Vyas, the learned senior counsel appearing for the petitioners, in support of the special leave petition and the learned Attorney General of India for the Union of India. The learned Attorney-General has placed the following statement indicating the policy the Government is following and will be following in checking tax evasion and the…

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