ANKUSH JAIN Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) These are two writ petitions arising out of a similar set of facts and are being disposed of by this common judgment.

(2.) The short issue involved here is whether the Principal Commissioner of Income Tax-4 ("PCIT-4") was justified in passing the impugned order dated 9th June, 2017 under Section 183 of the Finance Act, 2016 ("FA, 2016") in respect of the Income Declaration Scheme, 2016 ("IDS"), holding the declaration made by each of the Petitioners under the IDS to be void under Section 193 of the FA, 2016 on the ground that it was made both by misrepresenting and suppressing facts.

(3.) The facts in brief are that, the IDS became operational in terms of Chapter-IX of the FA, 2016 with effect from 1st June, 2016. The object of the IDS was to encourage disclosure of hitherto undisclosed income and payment of surcharge and penalty on such undisclosed income. This was provided for in terms of Sections 183, 184, 185 of the FA, 2016. Section 183 (1) of the FA, 2016 reads as under: