1997 (10) TMI 3 - SC - Income Tax

Constitutional validity of the Voluntary Disclosure of Income Scheme, 1997 (VDIS) - held that provisions of the Scheme are constitutionally valid.

Summary

The Supreme Court upheld the judgment of the Bombay High Court regarding the Voluntary Disclosure of Income Scheme, 1997 (VDIS). The Court dismissed the special leave petition challenging the Scheme's validity after considering the Government's policy on combating tax evasion. The petitioners' challenge was rejected, and the High Court's decision was affirmed.