SANGAM PLASTIC CENTRE Vs. P K TIWARI

JUDGEMENT

(1.) Rule, Service of Rule is waived by learned counsel for the respondent. Heard learned counsel for the parties.

(2.) Petition is directed against the order dated 19.1.1996 passed by the commissioner of Income Tax, Gujarat under Sec. 273-A of the Income Tax Act, 1961 rejecting the petitioner's application for waiver of interest under Sec. 139(8) and Sec. 215 and levy of penalty for late filing of returns under Sec. 271(l)(a) in respect of assessment year 1979-80 to 1983-84 for various sums on each count detailed in the order.

(3.) It has been found in the order itself that the assessee had filed returns of income voluntarily, and without issue of any notice under Sec. 139(2) or 148 of the Act. It is also found that the assessee cooperated in the finalisation of the proceedings under the Income Tax Act. The only reason given in the order for rejecting it was that amount due on account of the penalties and interest have not been paid by the assessee and stay was operating only upto 25.2.1990. According to the Commissioner the pleadings of the assessee about making satisfactory arrangement for the payment of interest cannot be accepted because such satisfactory arrangement would require not just moving a stay petition, but more than that, that is taking an installment facility and abiding by it and/or furnishing security to cover the demand, which had not been in this case. It was also observed that in any case after moving the stay petition for the last five years the assessee has not displayed absolutely any cooperation in the matter of payment of interest.