9911796707
TMI Blog1991 (4) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... oner is an assessee and is assessed by the Income-tax Officer, B-Ward, Jaipur. According to the petitioner, he furnished his return of income under section 139(1) of the Income-tax Act, 1961 (hereinafter referred to as the "Act"), for the assessment year 1974-75 on October 23, 1975. This return was revised on October 30, 1976. The figures relating to the assessment year 1974-75 are quoted below : ------------------------------------------------------------------------------------------------------------------------------------------------- Date of filing Income amount Tax Date of Date of asst. payment order --------------------------------------------------------------------------------------------------------------------------------- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -A payment Rs. 35,144. -------------------------------------------------------------------------------------------------------------------------------------------------- The reason for filing the revised return was that, as the petitioner had claimed a difference in the rate of papers, the same being on loan, and which was actually paid in the next year, that amount was deductible in the subsequent assessment year. The assessment for 1974-75 was framed by the Income-tax Officer on October 30, 1976. According to the petitioner, for the assessment year 1975-76, the return was filed on January 3, 1978, voluntarily and without any notice by the Income-tax Officer. An amount of Rs. 2,35,708 was deposited by way of tax payable under sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 273A(1) of the Act for filing petitions before the Commissioner of Income-tax for the aforesaid three assessment years for waiver. The petitioner thereafter filed three petitions for Waiver of penalty and interest for the aforesaid three assessment years. These petitions are annexures VII, VIII and IX to the writ petition. The petitioner received a registered notice dated January 18, 1979, from the Commissioner of Income-tax, Jaipur, in regard to the petition under section 273A for the assessment years 1974-75 and 1975-76, which is annexure X to the writ petition. Through this notice, the petitioner was asked to give a declaration to the following effect: "1. The return of income was filed by the assessee prior to the service of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ------------------------------------------------------------------------------------ Amount of interest Amount of penalty Assessment year charged and levied under section provision 271(1)(a) ------------------------------------------------------------------------------------------------------------------------------------------------ 1974-75 139(8) No. Rs. 27,926 1975-76 Rs. 52,118 Rs. 1,26,066 reduced to Rs. 5,043 by the CIT (A) 1976-77 Rs. 35,172 Nil ------------------------------------------------------------------------------------------------------------------------------------------------ It would be seen from the above chart that penalty of Rs. 1,26,066 was imposed for the assessment year 1975-76 but the same was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est for late payment of income-tax had been imposed. The Commissioner did not consider that when the assessee himself had filed the revised return, there could be no desire to evade payment of tax. However, the question in the instant case is whether the High Court, under article 226 of the Constitution, can reduce the interest or fix it itself. Under article 226, the High Court exercises supervisory power and not that of a court of appeal. But, as the basic character of interest which is payable under section 139(8) of the Act had not been taken note of by the Assessing Officer, I would consider sending back the case to the Commissioner of Income-tax for consideration of the circumstances requiring reduction in interest. Consequently, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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