TMI Blog1976 (10) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 18 A(3). After the settlement pursuant to the voluntary disclosure, she filed a return on March 25, 1970, for the assessment year 1961-62, showing an income of Rs. 450 from house property and an income of Rs. 32,500 disclosed by her under the settlement. The Income-tax Officer levied a penalty of Rs. 3,608 under section 271(1)(a). For the assessment year 1964-65, the assessee had filed an estimate of advance tax showing an income of Rs. 36,800 and the tax payable by her as Rs. 10,700. Thereafter, she filed a return showing her income as Rs. 35,615. After the settlement, pursuant to the voluntary disclosure, the Income-tax Officer completed the assessment for the assessment year 1964-65 on a total income of Rs. 1,70,298. Penal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n connection with regular assessment for the assessment year 1964-65 that the Income-tax Officer was satisfied that the assessee had furnished an estimate of the advance tax payable by her which she knew or had reason to believe to be untrue but in the course of proceedings for reassessment under section 147. Shri Bhagirath Dass argued that proceedings under section 147 could never be considered proceedings under sections 143 and 144 of the Income-tax Act and, therefore, could not be described as proceedings in connection with the regular assessment. Section 273(a) enables an Income-tax Officer if, in the course of any proceedings in connection with the regular assessment for the assessment year commencing on April 1, 1970, or any subsequ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be considered to be an assessment under sections 143 and 144. He invited our attention to the fact that the expression " regular assessment ", though not defined in the 1922 Act, occurred in some of the provisions of that Act, viz., sections 18A(4), 18A(6), 18A(9) and the heading of section 23(b). He argued that under the 1922 Act, the expression " regular assessment " was construed to include assessments both under sections 23 and 34 of that Act as distinguished from provisional assessment under section 23B, self-assessment, etc., and that the definition of "regular assessment " under section 2(40) of the 1961 Act was not meant to depart from the meaning which the expression had already been given by judicial interpretations. We find ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fth Additional Income-tax Officer [1963] 49 ITR 322. Thus, the expression "regular assessment" had been understood by some learned judges, including so eminent a judge as Chief Justice Rajamannar, to mean an assessment made in the regular course under section 23 and not an assessment under section 34. It appears to us that it is that meaning that has been accepted by the legislature when it defined the expression "regular assessment" in section 2(40) to mean "assessment made under section 143 or section 144". The Kerala High Court has taken the same view in Gates Foam and Rubber Co. v. Commissioner of Income-tax [1973] 90 ITR 422. The learned judges referred to the two decisions of the Madras High Court in Natarajan Chettiar v. Income-tax O ..... X X X X Extracts X X X X X X X X Extracts X X X X
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