1990 (1) TMI 112

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....d Commissioner therefore, issued a notice under section 285A(2) to the assessee asking it to show cause why fine as envisaged in section 285A(2) be not imposed on it. After considering the reply dated 11-5-1987 of the assessee the learned Commissioner took the view that the assessee had committed the default. The particulars were filed by the assessee in Form No. 52 on 14-5-1987. He levied a fine of Rs. 5,000 on the assessee under the aforesaid provision. 2. On behalf of the assessee the contentions raised in the reply dated 11-5-1987 were reiterated and additionally reliance was placed on the following decisions :-- (1) Hindustan Steel Ltd. v. State of Orissa [1972] 83 ITR 26 (SC) ; (2) Vallabhdas Manjibhai Dholakia v. CIT [1975] ....

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....while explaining the origin of clause 50 of the Finance Bill, 1988 it was mentioned in the Memorandum explaining the provisions of the said Bill [vide [1988] 170 ITR 197 Statute Section] as follows :-- " In view of the provisions of section 194C of the Income-tax Act, providing for deduction of tax at source by a person making payment to a contractor, the requirement of obtaining information under section 285A of the Act is no longer considered to be necessary. Therefore, as a measure of rationalisation it proposed to delete section 285A of the Income-tax Act. This amendment will take effect from 1st April, 1988. " It appears that there is a Form No. 26C prescribed with reference to section 194C. A comparison of Form No. 19C and Form ....