TaxTMI 
TaxTMI 
1991 (9) TMI 10
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....r 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 follows: Assessmen....
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.... 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 interest levied under sections 139(8) and 217 and penalties levied under section 273(b) for the assessment years 1972-73 to 1974-75 are not waived as there has been no compliance with section 273A(1)(iii)(c). Aggrieved, the above writ petition has been filed. Learned counsel appearing for the petitioner vehemently contended, while reiterati....
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....cient 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 (c) referred to above and that inasmuch as the condition precedent to invoke the benefit of clause (c) of sub-section (1) of section 273A has not been complied with, the Commissioner could not properly and validly exercise his discretion in favour of the petitioner even for the assessment years for which it has been disallowed. Learned counsel ....
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....le 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 consideration of his claim for waiver of the penalty as well as the interest chargeable, unless the said condition is satisfied in the present case, this court cannot interfere with the exercise of the discretion by the respondent, nor could this court find fault with such exercise of discretion by the respondent on any grounds of mercy....