1978 (12) TMI 68

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....-76 the return was filed on 27th Aug., 1975 declaring an income of Rs. 41,702 on which tax was worked out at Rs. 28,455. The assessee was required under s. 40A of the IT Act, 1961 to deposit this tax on or before 26th Sept., 1975 but the assessee failed to do so. Accordingly, the learned ITO started proceedings under s. 40A (3) of the IT Act, 1961. In reply, the assessee submitted as under; "Th....

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....re the learned AAC the assessee more or less advanced the same argument which was put forth before the learned ITO. 4. Before the Tribunal, on behalf of the assessee, it was contended that the assessee company filed the return of income on 27th August, 1975 declaring an income of Rs. 41,702. tax under s. 140A was payable on 26th Sept., 1975. The assessee deposited the tax to the extent of Rs.24....

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....eclaring the income of Rs. 41,702. The assessee deposited a sum of Rs. 24,000 under s. 140A of the Act on 14th Nov., 1975. The explanation of the assessee has been that on account of the circumstances beyond the control of the assessee, the entire payment of tax could not be paid. In the explanation, the assessee also took the stand that he was very anxious to make the payment of tax but on accoun....