PRAKASHKUMARI Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The present petition is against an order whereby respondent no. 1 refused to exercise jurisdiction under section 273-A of the Income Tax Act, 1961 (for short 'Act') for waiver of interest under Section 139(8) and 217 of the Act for Income Tax Assessment Year 1983-84 to 1985-86.

(2.) The petitioner being co-owner received rental income from the property during the relevant years. The petitioner voluntarily filed his Income Tax Return for the above years before receipt of any notice under Section 139(2) or 148 of the Act. The petitioner filed a petition on 04.05.1988 under Section 273-A for waiver of interest charged and for waiver of penalties and restricted the same only for years 1983 to 1986. The petitioner had made full payment of taxes on the income as assessed but not paid interest as an application was filed for waiver of the interest. The respondent, however, by order dated 24.05.2001 rejected the petitioner's application.

(3.) This Court in Writ Petition No. 311/1996 (Vasantbhai Jethalal Lathiwala ..vs.. Commissioner of Income Tax) elaborated the scheme and purpose of Section 273-A of the Income Tax Act in para nos. 7, 9, 11 and 13 as under:-