SHREE KISHAN Vs. COMMISSIONER OF INCOME-TAX

JUDGEMENT

(1.) This writ petition has been filed by the petitioner against an order of the Commissioner, Meerut, dated July 9, 1986.

(2.) A petition under Section 273 A of the Income-tax Act, 1961 (" the Act"), had been filed by Shree Kishan in two capacities, viz., as an individual and as a member of the Hindu undivided family. He made three prayers, viz., (i) no penalty or prosecution may be levied/launched under any provision of the Act or under any other law and any penalty imposable may be waived ; (ii) no interest under any provision of the Act may be charged or it should be waived ; and (iii) in case any assessment/reassessment in the hands of the Hindu undivided family or individual is made under the Wealth-tax Act, 1957, any penalty or interest imposable/pay-able under the Wealth-tax Act may be waived.

(3.) The Commissioner rejected the prayer holding that the provisions of Explanation 2 to Section 273A were not attracted in the present case and that the assessee was not entitled to the benefit thereof. The Commissioner further held that he had not made a full and true disclosure of his income within 15 days of the date of seizure as an individual. However, in regard to the case of the Hindu undivided family, the petition under Section 273A was accepted to the extent that there would be waiver of penalty under Section 271(1)(c) of the Act. The other prayers in respect of penalties and interest were rejected. The assessee's prayer for exemption was also rejected.