TaxTMI 
TaxTMI 
1991 (9) TMI 10
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....is unnecessary for me to go into the details having regard to the limited controversy before me. The fact remains that the petitioner, on November 26, 1979, taking advantage of section 273A of the Income-tax Act, 1961, and disclosing the income for the assessment years 1971-72 to 1977-78, paid the tax as calculated by him for the six assessment years to which a reference will be made hereinafter separately. After remitting the tax, the petitioner, on December 4, 1979, filed returns of income for the six assessment years and the Income-tax Officer, Salem-7, on April 10, 1980, passed the assessment orders relating to the said six years. The assessment year, the income returned and accepted, the tax paid and the tax actually assessed are as fo....
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....or waiver of the interest as well as the penalty imposable under the provisions referred to above. The respondent, by the impugned proceedings dated August 1, 1983, allowed waiver as hereunder: Assessment year Interest charged section 139(8) (Rs.) Interest charged section 217 (Rs.) Penalty levied/leviable under section 271(1)(a) (Rs.) Penalty levied/leviable under section 273(b) (Rs.) 1971-72 5,919 6,034 3,041 456 1972-73 - - 3,220 - 1973-74 - - 1,607 - 1974-75 - - 645 - 1975-76 156 - 196 - 1977-78 224 248 480 - The respondent has also stated in the impugned proceedings that ....
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.... the necessary condition, \viz., the payment of the tax on the income disclosed. According to learned counsel, it is not the totality of the tax for various years that has to be taken into account but the liability in respect of each year and the payment that has to be considered and taken note of to see whether there has been proper and sufficient compliance with section 273A(1)(iii)(c) of the Act. Learned counsel also relied upon a decision of the Division Bench of the Allahabad High Court in Millan Bone Mills v. CIT [1984] 149 ITR 663, wherein the Division Bench held that the conditions precedent for the exercise of the discretion for waiver or reduction of the penalty or charging of interest are those mentioned in clauses (a), (b) and (....
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....overall discharge of liability and remittance should be taken into account. Learned counsel for the respondent would contend that the petitioner himself apportioned the tax also with reference to the admitted income and he alone paid the tax as calculated by him for the six years separately and that merely because it was done on a single day in respect of all the assessment years simultaneously, the provisions of section 273A(1)(iii)(c) of the Act cannot be said to have been duly complied with. Having regard to the principle of law, that the compliance with the conditions referred to supra, viz., the disclosure coupled with the payment of the tax admittedly due on the admitted income is a condition precedent for entitling an assessee for....