2016 (11) TMI 1390

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..... e and amounts deposited and advance tax amounts deposited with the Income Tax Authorities for the period it has applied for under the Scheme - Held that:- An interim measure the petitioner should be permitted to deposit what according to it is the liability due working out to 25% net amounts payable under the Scheme. This determination, it goes without saying, would permit the petitioner to adjus .....

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..... on 184 and 187 of the Income Declaration Scheme, 2016 (in short the Scheme) entitles it to claim adjustment of the Tax Deduction at Source and amounts deposited thereunder as well as the advance tax amounts deposited with the Income Tax Authorities for the period it has applied for under the Scheme i.e. for the AY 2010-11 to 2016-17. The petitioner contends that on account of some inter se disp .....

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..... te footing and that the adjustment made under the provisions of the Income Tax Act, 1961 would not enure to the benefit of an assessee availing the scheme. This Court has considered the submissions and is of the opinion that purely as an interim measure the petitioner should be permitted to deposit what according to it is the liability due working out to 25% net amounts payable under the Scheme .....

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