BALASUBRAMANIA MILLS LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessee is one Shri Balasubramania Mills Ltd., Uppilipalayam, Coimbatore. THE assessment year involved is 1981-82, for the accounting year ending on December 51, 1980. THE assessee ought to have filed its return on or before June 30, 1981. But, there is a delay caused in the filing of return by the assessee. As a matter of fact, the assessee filed its return on December 26, 1981, i.e., to say, after a delay of five months and 26 days. However, the assessee before the closure of the accounting year made payments on June 9, 1980, September 11, 1980, and December 11, 1980 totalling to Rs. 10,60,500.

(2.) THE Income-tax Officer, Coimbatore, though referred to the payments made on the aforesaid three dates amounting to Rs, 10,60,500 as ad hoc payments, yet he gave credit to the payments in the assessed figure to raise the demand for the balance amount. He further levied interest under Section 139(8) of the Income-tax Act on the entire amount assessed as well as levied interest under Section 217.

(3.) ARGUMENTS of Mr. P. H. Aravindh Pandian, learned counsel, representing Subbaraya Aiyar, learned counsel appearing for the applicant, and of Mrs. Chitra Venkataraman, learned junior standing counsel, representing the Revenue, were heard.