GOPAL FILMS Vs. DEPUTY COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) SRI M. V. Seshachala, learned counsel for the Income-tax Department, is directed to take notice for the respondents.

(2.) IN regard to the return of income submitted by the petitioner-firm for the assessment year 1995-96, the Assistant Commissioner of INcome-tax, Circle 5(1), Bangalore, determined the total income-tax and interest payable thereon under Section 143(1)(a) of the INcome-tax Act, 1961 ("the Act" for short), as Rs. 18,33,470, Rs. 7,36,698 and Rs. 2,15,796, respectively, as per order dated March 29, 1996 (annexure-A). The petitioner appears to have paid in all Rs. 9,52,494 between February 28, 1997, and October 12, 1998. The Recovery Officer, Range-5, Bangalore, informed the petitioner by letter dated October 15, 1998, that a sum of Rs. 3,60,000 is still due in regard to the assessment year 1995-96, made up of Rs. 3,34,771 towards interest under Section 220(2) and Rs. 18,500 towards penalty, Rs. 3,581 as interest thereon and Rs. 3,148 towards costs and charges.

(3.) IMMEDIATELY after filing the said revision petition on January 5, 1999, the petitioner also filed a declaration under Section 88 of the Finance (No. 2) Act, 1998, on January 6, 1999, claiming the benefit under the Scheme, by alleging that a revision petition filed on January 5, 1999, was pending on the date of declaration.