1980 (4) TMI 196

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....m the operation of the provision of s. 249(4) of the IT Act. 2. The assessee filed the appeals on 25th Oct., 1978 but on that date the assessee had not paid the admitted tax in full. The CIT was of the opinion that the assessee had no good or sufficient reason to avoid payment of balance tax and therefore he refused to exempt the assessee from the operation of s. 249(4) and thus refused to ente....

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....admitted tax inspite of the availability of resources, the exemption claimed was rightly rejected. 4. On a consideration of the rival submissions, we are of the opinion that the facts of the case do not conclusively show that the assessees had deliberately intended to avoid payment of admitted tax. On the other hand, the payment of very large sums of money both within the previous year and also....