Law: Income Tax Act, 1961

Section: 139(2),273A

Income-tax---Penalty---Interest---Concealment of income---Failure to submit return in time---Waiver of penalty and interest---Return not submitted before issue of notice under S.139(2)---Letter disclosing investments---No complete disclosure of income ---Assessee not entitled to waiver of interest and penalty---Indian Income Tax Act, 1961, S. 273A---Constitution of India, Art. 226. Held, dismissing the writ petition, that under the provisions of the Income-tax Act, one of the conditions prescribed for getting relief under section 273A of the Income Tax Act, 1961, is that the assessee should have voluntarily and in good faith made full disclosure of his income prior to the issue of notice to him under section 139(2). Inasmuch as full disclosure by the assessee of his income was not voluntarily made in the present case by filing the returns before the issue of notice under section 139(2), the petitioner was not entitled to the relief of waiver of interest and penalties under section 273A. Further, in his letter dated June 25, 1975, the petitioner gave only a list of investments. The income disclosed for the relevant assessment years in the return was Rs.1,06,000 as against investments of Rs.1.77.000. In these circumstances, it was not possible to hold that the letter dated June 25, 1975, intimating the investments alone contained a full, true and complete disclosure of the total income of the assessee for the assessment years in question. Hence, the petitioner was not entitled to relief under section 273-A of the Act. JUDGMENT SOMASUNDARAM, J. ---The petitioner is an assessee on the file of the first respondent. His case is that for the assessment years 1968-69 to 1975-76, he filed returns under section 139 of the Income Tax Act, 1961 (hereinafter referred to as "the Act"), voluntarily declaring an income of Rs.12,300, Rs.12,300, Rs.10,300, Rs.10,300, Rs.10,300, Rs.10,300, Rs.10.300 and Rs.18,500, respectively. The Income Tax Officer made assessments for the above assessment years at Rs.22,450 Rs. 22,450, Rs.10.300, Rs.10,300, Rs.10,300, Rs.16,300 and Rs.18,500 and made a demand of Rs.4,022, Rs.3,338, Rs.386, Rs.606, Rs.606, Rs.606, Rs.1,028 and Rs.935,…

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