SAJAN ENTERPRISES MIRAJ Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Heard learned counsel for the petitioners and the respondents.

(2.) It appears that the petitioners had filed an declaration under the voluntary Disclosure Scheme, 1997 (hereinafter referred to as "the scheme"). The petitioners had under the said scheme filed a declaration on 25th december, 1997 disclosing an income of Rs. 10 lakhs. It may be noted here that under the scheme the petitioners are liable to pay entire tax due and payable within a period of three months from the date of filing of the said declaration. On 29th January, 1998 the petitioners had paid Rs. 51,000/- towards tax liability and a further sum of Rs. 52,000/- on 2/-2-1998, totalling a sum of Rs. 1,03,000/ -. On 26-3-1998 the petitioners had paid an amount of Rs. 2,65,000/- and a further sum of Rs. 1000/-on 30-3-1998.

(3.) The basic dispute in the above petition is that the entire tax liability was not paid within a period of three months as contemplated under the scheme. Mr. Bhujale learned counsel for the petitioners also fairly does not dispute that the aforesaid payments were made beyond the said period of three months. In this context it would be relevant to quote sections 65 and 67 of the said scheme :