HAKIMCHAND D CHOTAI Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS petition challenges the action of respondent authority in not issuing certificate of the full amount disclosed under the Voluntary Disclosure of Income Scheme, 1997 (VDIS); alternatively, the action of respondent authority in not refunding the sum of Rs. 7,42,000/- paid as tax and interest under VDIS has been challenged.

(2.) HEARD Mr. S. N. Soparkar, learned Senior Advocate for the petitioner and Mr. M. R. Bhatt, learned Standing Counsel for respondent authority. It is an agreed position between the parties that the issue is no longer res integra by virtue of the decision rendered by Supreme Court in the case of Hemalatha Gargya Vs. Commissioner of Income-Tax and Another (2003) 259 ITR 1.

(3.) IT is an admitted position between the parties that the petitioner made a declaration disclosing income of Rs. 34,50,000/- on which total tax (inclusive of interest) payable was Rs. 10,77,000/ -. The declaration was made on 08. 12. 1997. The petitioner paid a sum of Rs. 3,35,000/- towards tax on 08. 12. 1997. The balance amount of Rs. 7,00,000/- towards tax and Rs. 42,000/- towards interest was paid only on 26. 03. 1998. Admittedly, the said date viz. 26. 03. 1998 fell beyond the statutorily prescribed period of three months from the date of declaration and hence the respondent authority accepted the declaration only in relation to the income relatable to tax paid amounting to Rs. 3,35,000/ -. Hence, the aforesaid challenge.