SHRINATH TOOLS CENTRE Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) IN this petition under Art. 226 of the Constitution, the main relief which is sought by the petitioner, which is a partnership firm, dealing in the business of welding accessories, etc., pertains to the waiver of charging of interest and initiation of penalty proceedings in respect of the asst. yrs. 1981-82 to 1986-87.

(2.) THE impugned order of the respondent No. 1 CIT dt. 24th Feb., 1992, under s. 273A(1) of the IT Act, 1961 (`the Act'), indicates that the interest charged under s. 139(8) and 217 of the Act for asst. yr. 1980-81 is fully waived in purported excise of powers under s. 273A, whereas, the assessee-firm had claimed by the letter dt. 5th Jan., 1989, for waiver of penalty imposable under s. 271(1)(a) and interest charged under s. 139(8) and s. 217 for the assessment years from 1980- 81 to 1986-87. Unfortunately, the order does not deal with the claim in respect of remaining six assessment years. It is also not clear from the impugned order that the assessee-firm is ineligible for the claim for remaining six assessment years. Whereas, against that, the petitioner had categorically averred in the petition that requisite conditions for entitlement parameters are fulfilled even in respect of remaining six years and, therefore, waiver of penalty and interest charged ought to have been given for the remaining six assessment years. Such averments made in the petition have not been controverted by filing affidavit-in-reply and again, claim for remaining six assessment years made by the assessee-firm in respect of interest is less than Rs. 6,000 and in respect of penalty the claim is less than Rs. 16,000.