Law: Income Tax Act, 1961

Section: 139,148,217,139,209,22640,117A,148,139(8 )

Income-tax----Assessment---Advance tax---Interest---Waiver---Assessment made for first time on return filed in response to a notice under S.148 is a regular assessment---Interest can be levied in such a case under Ss. 139 & 217---No case made out for waiver of interest---Interest could not be waived---Indian Income Tax Act, 1961, Ss. 139, 209 & 217---Indian Income Tax Rules, 1962, Rr.40 & 117A---Constitution of India, Art. 226. The assessment made for the first time on the basis of the return filed pursuant to a notice under section 148 of the Income-tax Act. 1961, is a regular assessment: Held, dismissing the writ petition, that in the instant case, the assessments were completed only on the basis of the returns filed by the petitioner pursuant to the notice under section 148. Hence, the levy of interest under sections 139(8) and 217 was'. valid. The Commissioner of Income-tax had found that no valid reason had been urged on behalf of the petitioner for waiver of interest levied under section 139(8) or under section 217 of the Act. The Commissioner of Income-tax was justified in rejecting the application for waiver of interest. Lally Jacob v. ITO (1992) 197 ITR 439 (Ker.) fol. JUDGMENT The matter arises under the Income Tax Act, 1961. The petitioner, a partnership firm engaged in electrical repair works at Karuvelippady, is an assessee on the files of the Income-tax Officer, C-Ward, Circle I, Ernakulam. For the assessment years 1978-79 to 1982-83, the petitioner filed returns under the Income-tax Act beyond the period prescribed therefore under the Act. The assessing authority did not take any action on the said returns filed by the petitioner. Subsequently, the Income-tax Officer issued notices to the petitioner under section 148 of the Act directing it to file its returns for the years 1978-79 to 1982-83. In compliance with the said notices the petitioner filed separate returns for the aforesaid years. Based on these returns, -the Income-tax Officer completed the assessment for the aforesaid years and levied penal interest under section 139(8) for the non-filing of the return on the due dates and also levied interest under section 217 for non…

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