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Section 67 of the Finance Act, 1997 - Voluntary Disclosure of income scheme, 1997 - Interest payable by declarant - Assessment years 1992-93 to 1996-97 VDIS being beneficial Scheme, assessee availing of benefit under Scheme is bound by terms contained therein and as such assessee seeking relief under Scheme cannot seek extension beyond period mentioned in said Scheme [In favour of revenue] VDIS being beneficial Scheme, the assessee availing of the benefit under the Scheme is bound by the terms contained therein and the assessee seeking relief under the Scheme cannot seek extension beyond the period mentioned in the said Scheme. Thus, where there was a delay in making payment of tax with interest within the prescribed time under VDIS, the assessee's declaration under VDIS was rightly rejected even though the delay was of just one day. CASES REFERRED TO Hemalatha Gargya v. CIT [2003] 259 ITR 1 (SC)(para 5), Smt. Laxmi Mittal v. CIT [1999] 238 ITR 97 (P & H)(para 5), Maqbul Ahmad v. Onkar Pratap Narain Singh [1935] AIR 1935 PC 85 (para 5) and Vijay Narayan Thatte v. State of Maharashtra [2009] 9 SCC 92 (para 7) N. B. N. Swamy for the Appellant. K. Subramaniam for the Respondent. JUDGMENT M. M. Sundresh, J.-The writ appeal has been filed by the assessee being aggrieved against the order of the learned single judge dismissing the writ petition filed challenging the order dated June 18, 1999, passed by the second respondent. 2. The brief facts of the case in the nutshell are as follows : 3. A scheme was introduced by the respondents in the year 1997 by name Voluntary Disclosure of Income Scheme, 1997. Section 65 of the said scheme provides for a declaration to be made to the Commissioner by the assessee giving particulars. Section 67 of the said scheme provides for payment of interest payable by the assessee while filing a declaration without the payment of tax. The scheme provides for period of three months from the date of declaration for payment of tax. Similarly, section 68 of the said Act provides for grant of certificate by the Commissioner on the application made by the assessee. 4. The assessee filed a declaration under the Voluntary Disclosure of Income…

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