TaxTMI 
TaxTMI 
2022 (2) TMI 1062
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....urt seeking for the following relief : "A. Quash by an order, writ or direction in the nature of certiorari the communication dated, March 20, 2018 bearing No. ITO/W-3(4)/ HBL/153A/2017-18 (annexure 'J') of the first respondent where the decision of the second respondent to the effect that the Pradhan Mantri Gareeb Kalyan Yojana (PMGKY) scheme is inapplicable to the petitioner is communicated. B. Direct to the first respondent that the petitioner qualifies for the benefits enumerated in section 199-I of Act No. 48 of 2016 granting immunity from the provisions of the Income-tax Act. C. Issue a writ, order or direction in the nature of mandamus to the second respondent that the petitioner qualifies for the b....
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....saged under rule 3(3) as per Notification No. S. O. 4059(E), dated December 16, 2016 under section 199C(1) of Chapter IX-A of Act No. 48 of 2016 ([2016] 389 ITR (St.) 63 )." 2. On December 21, 2016, office of the Police Department seized an amount of Rs. 29,98,000 from the employee of the petitioner. The said amount was taken over by the Income-tax Department who proceeded in the matter by issuing summons under section 13 of the Income-tax Act, 1961, recorded a statement on December 26, 2016. Similar statements were recorded from several other persons who are stated to be involved in the said transaction or otherwise. 3. The petitioner wished to avail of the benefit under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 (PMGK Sche....
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....t was left for the petitioner to comply with the provisions of section 199F inasmuch as an amount equivalent to 25 per cent. of the undisclosed income was to be deposited in the Pradhan Mantri Garib Kalyan Deposit Scheme. Initially, the said deposit was required to be made by March 31, 2017. 8. The grievance of the petitioner is that though the petitioner tried to deposit the said amount on March 31, 2017 with the State Bank of India, Koppikar Road, Branch Hubli, the said bank informed the petitioner that the said branch was not identified or permitted to accept the deposit under the Pradhan Mantri Garib Kalyan Deposit Scheme and therefore, referred the petitioner to Keshavapur Branch. The petitioner immediately went to the Keshavapur Br....
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....ondent-authorities having in their possession, an amount double the amount required to be deposited under section 199F. 13. Learned counsel for the petitioner further submits that the petitioner is even as on today ready to deposit the amount with the authorities to be adjusted. The period of deposit under section 199F can be taken into consideration from today, the petitioner would not seek for withdrawal of the amount for a period of four years from today nor seek for interest from the year 2017 till now or going further for a period of four years. On these grounds, learned counsel for the petitioner submits that the writ petition requires to be allowed. 14. Per contra, Sri Y. V. Raviraj, learned counsel appearing for the Department....
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....h as the tax at the rate of 33 per cent., surcharge at the rate of 33 per cent. on the Income-tax and penalty at the rate of 10 per cent. has been received by the respondent-Department and credited to the respective authority. It is only 25 per cent. of the penalty which is required to be deposited with the respondent-authorities for a period of four years in terms of section 199F which has not been complied with. Since the matter is relating to tax, if the percentage is determined, the petitioner has complied with 66 per cent. of the requirement leaving a balance of 33 per cent. to be complied with. Which 33 per cent. also the petitioner sought to comply with by depositing with the bank but was unable to do so for the reasons aforesaid whi....
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....itioner to the respondent-Department. It is only on account of the bank not accepting the deposit that form 2 could not be got counter signed with an acknowledgment from the bank and not be submitted by the petitioner to the respondent-Department. 22. In the peculiar nature of the facts of the present case, I am of the considered opinion that the petitioner has made all efforts to try and comply with the requirement of the Pradhan Mantri Garib Kalyan Deposit Scheme. In such a situation, 66 per cent. of the compliance having been done, the petitioner ought not to be denied the benefit of the scheme more so that the learned counsel for the petitioner has made a submission that he is still willing to deposit the amount for a period of four ....