1988 (3) TMI 40

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....llant was the petitioner in 0. P. No. 967 of 1982-A. He is an assessee to income-tax. For the assessment year 1978-79, the second respondent, the Income-tax Officer, levied interest under section 139(8) of the Income-tax Act of a sum of Rs. 2,140 and a sum of Rs. 1,549 by way of interest under section 215 of the Act. The total interest thus levied came to Rs. 3,689. The petitioner filed an applica....

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....cometax Act in holding against the assessee/appellant. Section 273A in so far as it is relevant in the instant case, is extracted hereinbelow: " 273A. Power to reduce or waive Penalty, etc., in certain cases.(1) Notwithstanding anything contained in this Act, the Commissioner may, in his discretion, whether on his own motion or otherwise,-... (iii) reduce or waive the amount of interest paid....

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....osure in the instant case was made through the medium of a return. So, in this case, no question of issuing a notice under section 139(2) or section 148 of the Act can arise. The tax on the income disclosed was not paid along with the disclosure. It was fully paid long after the disclosure was made, i.e., on December 7, 1978. On these premises, we have to hold that the assessee failed to pay the t....