1998 (12) TMI 35

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....and law and can be disposed of by one common order. For convenience the facts of the case in W. P. No. 1815 of 1990 are taken up for consideration. The petitioner is a limited company incorporated under the Companies Act. The company has to file its returns for the assessment year 1981-82 due on July 31, 1981, and for the assessment year 1983-84 due on July 31, 1983, respectively. It is stated ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f Income-tax should not travel beyond it and take extraneous matters to reject it. Kalindi Investment Pvt. Ltd. v. CIT [1979] 118 ITR 973 (Guj), wherein it has been observed that sufficient cause for delay in filing the return is not necessary to consider the application. B.R. Sound-N-Music v. O. P. Bhardwaj [1988] 173 ITR 433 (Bom), wherein section 273A is applicable where there is a delay ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he return. Further, he has not furnished full and true disclosures and not paid the advance tax or not made any arrangement for payment of advance tax. He has also stated that the order has been passed after applying due mind and discretion has been exercised. He has also relied on Naresh Kumar v. Government of India [1997] 223 ITR 569 (P&H) and Harbans Kaur (Smt.) v. CWT [1997] 224 ITR 418 (SC) a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y on his own inaction as justification for the delay nor justification for non-payment of advance tax due to the earlier year's losses. It was also observed that the reasons for cancelling the penalty are not the same as for levy of interest. Therefore, the exercise of his discretion by not waiving interest cannot be said that it is in violation of section 273A. Learned counsel for the petition....