INDIRA COTTON MILLS P LIMITED CHROMEPET MADRAS 44 Vs. COMMISSIONER OF INCOME TAX TAMIL NADU II MADRAS

JUDGEMENT

(1.) IN this writ petition, the petitioner has prayed for issue of a writ of certiorarified mandamus or any other appropriate writ, direction or order to call for the records relating to C.No.1241-11 (53 of 1985) on the file of the first respondent and quash the impunged order dated 21.8.1987 and consequently direct the first respondent to grant the relief of waiver of interest to the petitioner for the said assessment year.

(2.) THE petitioner is the private limited company represented by its Managing Director. THE petitioner is an assessee of the Income Tax Act on the file of the Income Tax Officer in GI.No. 10-1. For the assessment Year 1981-82, the petitioner filed a statement of account in Form No.28A on 11.6.1980 on an income of Rs. 19,80,690 based on the assessment completed for 1977-78 and paid the first two instalment tax at the rate of Rs. 4,25,848, per installment. On 15.12.1980 a revised estimate in Form No.29 dated 10.12.1980 was filed estimating the income at Rs. 42,50,000 and the tax at Rs. 27,41,250. THE different of Rs. 18,89,554 was paid on 14.12.1980. THE return of income was filed on 29.7.1981 admitting a total income of Rs. 52,82,480. THE assessment was completed an 25.6.1984 determining the total income of Rs. 53,73,870 and the tax of Rs. 34,66,146 and the interest under Section 215 of Rs. 42,233 was charged. After adjusting the advance tax payments and the payment of Rs.6,61,795 under Section 140-A, a net demand of Rs. 1,01,179 was raised, which was paid on 12.2.1985.

(3.) HEARD Mr. P.P.S. Janarathana Raja, learned counsel appearing on behalf of the petitioner and Mr.S.V. Subramaniam, Senior Standing Counsel for Income Tax cases on behalf of the respondents.