2007 (4) TMI 237

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....before the Assistant Commissioner of Income-tax, City Circle VII(3), Chennai. She filed the return of income for the assessment year 1995-96 under the provisions of the Income-tax Act. The assessment was completed on March 23, 1998, determining the total income at Rs. 29,26,025. The tax payable in respect of the income other than capital gain was determined at Rs. 75,516, of course after granting necessary rebate under section 88 of the Act, viz., the amount of tax payable on income other than capital gain was determined at Rs. 70,276 and the capital gain tax was arrived at Rs. 5,34,948. As per the said assessment order dated March 23, 1998, the tax payable was determined at Rs. 8,45,175, after making certain addition towards the interest u....

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....e of tax was 40 per cent. during the relevant assessment year in question. But the same was resisted by the Revenue on the ground that once the petitioner chooses the benefit of the Samadhan Scheme, its rights and liabilities would be determined only within the purview of the Samadhan Scheme and not otherwise. 7. The learned single judge, by order dated April 30, 1999, holding that there would be two unintended injuries that might be suffered by the petitioner, one in determining the amount of disputed income and another in payment of higher rate under the Samadhan Scheme and that such contingency was not contemplated nor intended by the Legislature under the Samadhan Scheme and that the determination of the disputed income at Rs. 20,29,....