HARGU CHARAN SRIVASTAVA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessee filed returns of income on 27th August, 1968, for the assessment years 1964-65 to 1968-69. On 14th August, 1969, he filed revised returns for all the aforesaid years, except for the year 1966-67. THE income in the original as well as in the revised returns was as follows: <FRM>JUDGEMENT_622_ITR119_1979Html1.htm</FRM>

(2.) THE ITO accepted the revised returns and passed the assessment orders on different dates of August, 1969, except for the year 1966-67, for which the assessment was completed on an income of Rs. 16,903. In the assessment orders he recorded a finding that the assessee filed returns late and that he had not filed estimate of income under Section 212(3) of the I.T. Act. Hence, proceedings for levying the penalty were initiated.

(3.) THE assessee went up in appeal and then to the Tribunal, but failed.