M/S.SANGAM THEATRE P.LTD. Vs. CIT

JUDGEMENT

(1.) M/s. Sangam Theatre Private Limited has filed this writ petition aggrieved by the rejection by the Respondents of its application dated on 28th January, 1999 under the Kar Vivad Samadhan Scheme ('KVSS').

(2.) The brief facts are that for the two Assessment Years (AYs) in question, 1991 -92 and 1995 -96, the Assessing Officer ('AO') made additions to the disclosed income of the Assessee and raised demands of Rs.6,75,413 and Rs.66,804/ - respectively. The demand notices were issued to the Petitioner on 10th February, 1998 and were challenged by the Assessee in appeal.

(3.) In the meanwhile, the KVSS was announced by the Government of India. Sections 84 to 98 of the Finance (No. 2) Act, 1998 set out, inter alia, the detailed procedure for making applications under the KVSS. The Petitioner submitted an application on 28th January, 1999 seeking to settle the demands arising out of the assessment orders for the two AYs in question.