NANDU ATMARAM WAJEKAR Vs. UNION OF INDIA

JUDGEMENT

(1.) This petition under Art. 226 of the Constitution of India seeks a direction to the Principal Commissioner of Income Tax, Thane to accept a sum of Rs.19 crores being the amount of 25% tax payable by the petitioner on declared undisclosed income under the Income Declaration Scheme, 2016 even after the specified date to make the payment.

(2.) The petitioner had on 30th Sept., 2016 filed a declaration under the Income Declaration Scheme, 2016 (part of the Finance Act, 2016) declaring a total undisclosed income of Rs.11.59 crores for Assessment Years 2014 and 2015 determining the total tax payable (including penalty) thereon at Rs.5.21 crores. In terms of the Notification issued under Sec. 183 of the Income Declaration Scheme, the petitioner is required to pay 25% of the tax payable on or before 30th Nov., 2016, further amounts payable on or before 31st March, 2017 and 30th Sept., 2017. The petitioner has failed to pay the tax which he was obliged to pay before 30th Nov., 2016.

(3.) The petitioner's grievance is that he was unable to deposit the amount of Rs.1.19 crores being the 25% which he was required to deposit before 30th Sept., 2017 under the Income Declaration Scheme, 2016 in view of the demonetization of Rs.500.00 and Rs.1000.00 currency notes on 8th Nov., 2016. Thus, he seeks a direction to the respondent Revenue to now accept Rs.1.19 crores which he was unable to deposit on or before 30th Nov., 2016.