2001 (2) TMI 104

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....r 1990-91, the Assessing Officer found that there were credits to the extent of Rs. 1,89,000 and when the assessee was asked to explain the nature and source of these deposits, the assessee has filed revised returns, for the assessment years 1988-89 and 1989-90 and for the first time for the assessment years 1984-85 to 1987-88. Thus, it can be seen that these returns were not filed voluntarily, but only after the Assessing Officer started investigation of the case. As the disclosure made by the assessee was not voluntary, the interest cannot be waived under section 273A." The Commissioner has given further details in the counter-affidavit filed to the writ petition regarding the extent of delay. The return for the year 1985-86, which was....

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....urns filed were clearly not returns filed in good faith and were not voluntary before any enquiry had been initiated with regard to the untaxed income of the assessee. The Commissioner's jurisdiction to waive interest besides being discretionary is required to be exercised only when the return has been filed making a full and complete, disclosure, the return being filed voluntarily and in good faith, and further such return being filed before the issuance of the notice under section 139(2) of the Act. The disclosure made in this case in the returns for the earlier years, and the submission of the revised return for one of those years cannot be regarded as entirely voluntary, as it is obvious that such returns would not have been filed....