2024 (10) TMI 1084

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....ferred to as the "CIT(A)"] u/s. 250 of the Income-tax Act, 1961 [hereinafter referred to as "Act"] for the Assessment year [A.Y.] 2012-13, wherein learned CIT(A) has partly allowed assessee's appeal against the assessment order dated 03.12.2018. 2. (i) The brief facts related to the appeal state that assessee filed return of income for A.Y. 2012-13, on 30.09.2012, declaring total income of Rs. 1,03,76,120/-. The return was duly processed u/s. 143(1) of the Act. Consequent upon the Income Declaration Scheme 2016, assessee filed declaration form no. 1, u/s. 183 of the finance Act 2016 on 30.09.2016 declaring the income of Rs. 1,87,00,000/- as under: Assessment year Amount of Undisclosed Income (Rs.) Nature of Undisclosed Income ....

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....e books of M/s. Shree Balaji Enterprises and cash in hand, the assessment for A.Y 2012-13 was reopened u/s. 147(b) of the Act. (iv) Notice u/s. 148 of the Act dated 28.03.2018 was issued and served upon the assessee. Statutory notices u/s. 142(1) r/w 143(2) of the Act were issued and served upon the assessee. Assessee made his submissions dated 26.11.2018 and stated that his ROI filed originally may be treated as return filed in response to notice u/s. 148 of the Act and disclosed income of Rs. 1,87,00,000/- and agreed to discharge the tax liability of Rs. 84,15,000/- under the income disclosure scheme 2016. It was stated by the assessee that out of total liability of Rs. 84,15,000/-, he has made partial payment of Rs. 66,35,500/-. (v....

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....aration Scheme-2016. 5. In response to the notice issued by the tribunal, learned DR appeared and participated in the proceedings. 6. We have perused the records and heard learned representatives for both the parties. 7. Learned representative for the assessee has submitted that learned CIT(A) has erred in confirming AO's addition of assessee's disclosed income of Rs. 80,00,000/- for A.Y. 2012-13 as undisclosed income, despite the entire compliance made by assessee by paying the balance tax within the stipulation period prescribed as per notification dated 13.12.2019 r/w IDS-2016, which is made effective retrospectively with effect from 01.06.2016. Prayed to quash the impugned order along with reopening of the assessment and order ....

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....issued by the Central Government and extended date of payment of such amount till 31.01.2020, along with interest on such amount @1% for every month. The notification was brought into force with effect from 01.06.2016 retrospectively. Assessee paid the balance tax of Rs. 17,79,500/- along with interest of Rs. 4,98,260/- on 21.01.2020 as per CBDT e-receipt for e-tax payment at page 29 of assessee's paper book. 12. Learned CIT(A), while passing impugned order, has taken support from the judgement of the Hon'ble Supreme Court in Yogesh Roshanlal Gupta V. Central Board of Direct Tax [2022] 135 taxmann.com 209(SC), wherein the limited issue before Hon'ble Supreme Court was with respect to the adjustment of the amount deposited towards first t....