law: Voluntary Deposits (Immunities and Exemptions) Act, 1991
  4. Deposit not to be
  
  taken into account in certain cases.-
  Without prejudice to
  
  the generality of the provisions of section 3,--
  a.  
  
    the
  
  deposit shall not be taken into account for the purpose of any proceeding under
  
  the Income-tax Act, 1961 (43 of 1961) and, in particular, the depositor shall
  
  not be entitled to claim any set-off or relief in any assessment,
  
  re-assessment, appeal, reference or other proceeding under that Act or to re-
  
  open any assessment or re-assessment made under that Act on the ground that he
  
  has made such deposit. Explanation.--For the avoidance of doubt, it is hereby
  
  declared that the provisions of the Income-tax Act, 1961 (43 of 1961) will
  
  apply to any income which accrues or arises or is deemed to accrue or arise to
  
  the depositor from the amount of the net deposit;
  b.  
  
    the
  
  deposit shall not form part of the assets of any assessee for the purposes of
  
  computing his net wealth under the Wealth-tax Act, 1957 (27 of 1957) in
  
  relation to any assessment year commencing before the 1st day of April, 1992.