Law: Income Tax Act, 1961

Section: 142(1),143(3),88,89,87,90

Section 90 of the Finance (No. 2) Act, 1998 - Kar Vivad Samadhan Scheme - Assessment year 1992-93 - Whether once declarant makes payment of amount so determined under section 90, immunity under section 91 springs into effect and upon such declaration being made, tax arrears being determined, paid and certificate issued under KVSS, there is no jurisdiction for Assessing Officer to reopen assessment by a notice under section 143 except where case falls under proviso (2) of sub-section (1) of section 90 and it is found that any particular material furnished in the declaration is found to be false - Held, yes FACTS The Assessing Officer by an order under section 143(3) disallowed certain claims of the assessee. On Appeal, the Commissioner (Appeals) confirmed the order of the Assessing Officer in respect of three items of disallowance of premium paid, depreciation and interest. With regard to four items, viz., income from house property, capital gains, disallowance of bad debts and rule 6D disallowance, he remitted the matter back to the Assessing Officer for fresh adjudication. The assessee carried on an appeal before the Tribunal in respect of first three items. Pursuant to the order of the Commissioner (Appeals), the Assessing Officer determined the assessed income at Rs. 33.65 lakhs and raised a demand of Rs. 26.28 lakhs. In the meanwhile, the KVSS, 1998 was introduced by the Finance (No. 2) Act, 1998, the assessee filed declaration under the KVSS disclosing the assessed income of Rs. 33.65 lakhs and worked out tax at Rs. 8.66 lakhs. The Designated Authority accepted the assessed income at Rs. 33.65 lakhs and determined tax at Rs. 9.36 lakhs. On payment of tax, the assessee was issued final certificate under section 92, read with section 91 of the Finance Act certifying full and final settlement of tax arrears and granted immunity consequent under the provision of the scheme. Subsequently, the Assessing Officer issued notice following order under section 142(1) calling upon the appellant to furnish details in connection with taxing of licence fee and evidence to establish written off debts, which was protested by the appellant on the ground that the concerned…

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