Law:

Section:

Section 10, read with section 6, of the Super Profits Tax Act, 1963 - Penalty - For failure to file return - Assessment year 1963-64 - Whether ITO was not entitled to impose penalty on petitioner assessee on ground of failure to file return within time prescribed under that section 6 when return was filed before assessment was made and ITO completed assessment on basis of such return - Held, yes FACTS The petitioner company furnished its return in respect of assessment year 1963-64 on 30-8-1967. An assessment was made on the petitioner in respect of the after said year by the respondent - ITO on 21-11-1967, on the basis of the return filed. By a notice purported to be issued under section 10, the respondent required the principal officer of the petitioner-company to show cause why an order imposing a penalty should not be made under section 10. On writ, the petitioner submitted that he was entitled to furnish a return at any time before the assessment was made and in fact such a return was filed and accepted by the respondent and an assessment made on the basis of such return and therefore, there was no failure on his part, to furnish a return as required under section 6 and as such the impugned notice for the purpose of imposing penalty under section 10 was bad in law. HELD Section 139 of the Income-tax Act, 1961 makes it clear that the penalty is imposable not only on the failure to file a return but also for the failure to file a return within the time prescribed by the section. The imposition of a penalty for failure to file a return within the time prescribed but before assessment is not specifically provided for in section 10 of the Act. If it was the intention of the legislature to penalise an assessee for filing a return not within the time allowed under the section while permitting the assessee to file such a return at any time before the assessment was actually completed, then unless there were specific words in the section imposing such penalty as there are in the corresponding sections of the Income-tax Act, no penalty could be imposed for failure to file a return on the ground that the return was not filed within the period prescribed by section 6.…

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