TMI Blog1988 (4) TMI 32X X X X Extracts X X X X X X X X Extracts X X X X ..... these assessment years, the Income-tax Officer had levied interest under section 139(8), penal interest under section 215/217 and penalties under sections 271(1)(a), 273(b) and section 271(1)(c) of the Income-tax Act, 1961. The petitioner made an application dated July 12, 1985, addressed to the Commissioner of Income-tax, Bombay City-III, Bombay, under section 273A of the Incometax Act, 1961, requesting him to waive the interest and penalties so levied under the provisions of that section. Appendix " A ", which is annexed to this application and which is at page 38 of the petition, gives particulars of the due date of the return in respect of each of these assessment years, the actual date on which the return was filed, income returned, in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to in clause (iii), has, prior to the issue of a notice to him under sub-section (2) of section 139, or where no such notice has been issued and the period for the issue of such notice has expired, prior to the issue of notice to him under section 148, voluntarily and in good faith made full and true disclosure of his income and has paid the tax on the income so disclosed, and also has, in all the cases referred to in clauses (a.), (b) and (c), co-operated in any enquiry relating to the assessment of his income and has either paid or made satisfactory arrangements for the payment o any tax or interest payable in consequence of an order passed under this Act in respect of the relevant assessment year." It is, therefore, necessary that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 273A is substantially similar to the old section 271(4A). The latter also uses the expression " has voluntarily and in good faith made full disclosure of his income ". The Punjab and Haryana High Court in that case observed (p. 552): " The Act nowhere provides that if the person concerned is an assessee in the previous years and had been submitting returns, he is not entitled to the benefit of that section. (Section 271(4)). If that had been the intention of the Legislature, it could have specifically said so in the Act. It is a settled proposition of law that the provisions of a taxing statute have to be construed strictly. If the person making an application under this section fulfils the aforesaid requirements, the Commissioner has to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roducing the Bill which incorporated the previous section 271(4A) in the Income-tax Act, it would be seen that the section was applicable only to concealed income if voluntarily disclosed. In the first place, in interpreting a section of the Act, one cannot look at the Statement of Objects and Reasons or the speech of the Finance Minister, except for the limited purpose of ascertaining the mischief which the Act seeks to remedy. Secondly, the Statement of Objects and Reasons or the speech of the Finance Minister relied upon are not in respect of the Bill which introduced section 273A at all. They pertain to the previous section 271(4A) which is now replaced by section 273A. It is difficult to see what assistance can be derived from these in ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
