Law:

Section:

Section 234A of the Income-tax Act, 1961 - Interest Chargeable Where returns for assessment years 1996-97 to 2000-01 were filed only after notices were issued under section 148, said returns had rightly been held by respondent-authority as not being voluntary in nature and in such a case no fault could be found with order of respondent authority rejecting assessee's prayer for waiver of interest [Assessment years 1996-97 to 2001-02] [Remanded] Sendhaji Amraji Thakore v. Chief CIT [2009] 315 ITR 233 (Guj.) In 1990-91, the Gujarat Narmada Nigam Authority initiated proceedings for compulsory acquisition of the agricultural land of the petitioner and co-owners for the purpose of construction of the Narmada canal. The petitioner was chosen to represent the interest of himself and other co-owners of the land. After litigation, the petitioner and other co-owners became entitled to compensation along with interest in the land acquisition proceedings. The total amount of interest was computed at a figure of Rs. 20,01,716. It was the case of the petitioner that the said interest was relatable to a period of 102 months. As per the tax deduction certificate which was in the name of the petitioner, the petitioner filed a return of income for the assessment year 2001-02 showing proportionate income for 12 months worked out at a sum of Rs. 2,35,000. After working out the tax payable at Rs. 44,650, net refundable amount was claimed at Rs. 1,75,539 based on the TDS certificate, wherein tax deducted at source was shown to be Rs. 2,20,189. The petitioner was duly assessed by accepting the said return of income but the Assessing Officer thereafter issued notice under section 148 calling upon the petitioner to file returns of income for earlier assessment years, which had admittedly not been filed. The petitioner thereafter filed returns for the said assessment years and the assessments were completed. Ultimately, the petitioner filed a petition for the assessment years 1996-97 to 2000-01 for waiver of interest charged under sections 234A and 234B. In the said petition, the petitioner had categorically taken a stand that interest should be waived/charged only in relation to the…

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