SIDDHARTH RASTOGI Vs. CENTRAL BOARD OF DIRECT TAXES

JUDGEMENT

(1.) The writ petitioners, namely, Siddharth Rastogi and Dal Chandra Rastogi, had filed declarations of undisclosed income of Rs.44,57,940/- and Rs.40,11,000/- respectively under the Income Declaration Scheme, 2016 in terms of the Finance Act, 2016.

(2.) The total amount payable towards tax, surcharge and penalty on the aforesaid declaration, in the case of Siddharth Rastogi and Dal Chandra Rastogi was Rs.20,06,074/- and Rs.18,04,950/- respectively.

(3.) The petitioners paid first two installments of 25% each of the total tax, surcharge and penalty. In other words, the petitioners had paid 50% of the amount payable.