2022 (5) TMI 1556 - SCH - Income Tax

Delay in payment to Income Declaration Scheme - Condonation of delay in making payment of first installment by the defaulters who have not paid any amount will now or further extending the date beyond the due date for regularising/ facilitating the payment of liabilities under IDS - power of the board u/s 119(2) - HELD THAT - As petitioner submits that the case is actually covered as in terms of the Notification dated 13.12.2019 of the Ministry of Finance that all such people who defaulted in making payment were permitted to deposit the amount with 12 per cent interest. That amount with interest stands deposited in pursuance to order dated 22.04.2019 . 2019 (4) TMI 2108 - SC ORDER albeit before this Court and has being kept in an interest bearing deposit. Respondent seeks a short accommodation to obtain instructions in this behalf. List on 18.05.2022.

Summary

The Supreme Court of India, in the case citation 2022 (5) TMI 1556 - SC, heard from counsels for both petitioner and respondent. The respondents appeared three years after the notice was issued. The petitioner cited a Ministry of Finance notification allowing defaulters to deposit the amount with interest, which was done before the Court. The respondent requested time to seek instructions. The case was listed for further hearing on 18.05.2022.