Law: Income Tax Act, 1961

Section: 139

Income-Tax----Return---Advance tax---Assessment---Interest---Delay in filing returns---Failure to pay advance tax---Meaning of "regular assessment'-­Assessment for first time under S.147---Interest can be levied under Ss. 139(8) & 217---Indian Income Tax Act, 1961, Ss. 139 & 217. Words and Phrases---Meaning of "regular assessment". The assessment made for the first time though not on the basis of return voluntarily filed in the manner required by the statutory provision and within the time prescribed therein is a regular assessment. The word "assessment" as defined in the Act includes reassessment. The assessee was an individual carrying on real estate business. As he did not file any return for the assessment year 1976-77, the Income-tax Officer issued a notice to him under section 148, in response to which a return was filed admitting an income of Rs.28,410. The assessment was completed under section 143(3) read with section 147(x) of the Income Tax Act, 1961, and in the assessment order interest was also charged under sections 139(8) and 217 for delay in filing the return and also for non-payment of advance tax in accordance with. law. The Commissioner of Income-tax (Appeals) deleted the interest and this was upheld by the Tribunal. On a reference: ' Held, that in this case no reassessment had been done. The Income-tax Officer had issued a notice calling for a return and thereafter the return had been filed. The assessment so made for the first time was in fact a regular assessment and the applicability of sections 139 and 217 of the Act, were not excluded in respect of such an assessment. Interest could be levied under sections 139 and 217. K. Gopalaswami Mudaliar v. Fifth Addl. ITO (1963) 49 ITR 322 (Mad.) applied. CIT v. Pratap Singh of Nabha (1982) 138 ITR 27 (Delhi); Deviprasad Kejriwal v. CIT (1976) 102 ITR 180 (Bona.); Lally Jocob v. ITO (1992) 197 ITR 439 (Ken.) and National Agricultural Cooperative Marketing Federation of India Ltd. v. Union of India (1981) 130 ITR 928 (Delhi) fol. Charles D' Souza v. CIT (1984) 147 ITR 694 (Kar.) ref. JUDGMENT R. JAYASIMHA; BABU, J.----The question referred to us at the instance of the Revenue is as to…

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