2007 (1) TMI 137

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....EVADHAR J.-Rule. Rule made returnable forthwith. By consent of parties, the petition is taken up for final hearing. In this petition, the petitioners have challenged the order dated March 20, 2006, passed by the Chief Commissioner of Income-tax, Bombay ("CCIT" for short), under section 119(2)(a) of the Income-tax Act, 1961 ("the Act" for short). By the said order the Chief Commissioner of Income-t....

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....o the assessment year 1992-93. Accordingly, the petitioner filed the revised returns for the assessment year 1989-90 to the assessment years 1992-93. In the assessment order passed thereon, the Assessing Officer levied interest under section 234A, 234B and 234C of the Act. Thereupon, the petitioner filed an application before the Chief Commissioner of Income-tax seeking waiver of interest levie....

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....ircular issued by the Board, the petitioner is entitled to seek waiver only if the tax payable has been paid before seeking waiver of interest. In the present case, taxes paid by the petitioner are more than the tax payable and it is only because the amount of tax paid has been adjusted towards the interest, the Chief Commissioner of Income-tax has come to the conclusion that there are outstanding....

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.... is only after the Commissioner of Income-tax in his order dated February 2,2005, passed under section 132(12) of the Act permitting spread over of the undisclosed income, revised returns were filed. In these circumstances, the findings recorded by the Chief Commissioner of Income-tax to the effect that the additional income has been offered after issuance of notice under section 148 cannot be acc....