Armtwist Tactics?

Updated on: 7 February 2024 7:29 pm

Armtwist Tactics?

THE basic VDIS premise is that all declarations will be taken at face value. But it's clearly better to come clean fully than halfway. Businessmen and individuals making declarations in Delhi have been urged to come up with statements regarding suppressed personal income or business turnover of previous years, or face action after the expiry of the scheme.

The Delhi High Court has issued notices to the revenue department and the CBDT regarding a circular which empowers CBDT to investigate declarations where irregularities are noticed. The court wants to know whether the circular is in consonance with the CBDT's earlier promise of permitting filing of disclosure affidavits without any questions being asked.

A large number of traders' organisations in Delhi pulled down their shutters on December 18 in protest against raids being carried out by income tax authorities.