COMMISSIONER OF INCOME-TAX Vs. RAJESH TALKIES

JUDGEMENT

(1.) THIS order will dispose of I. T. Cases Nos. 57 and 58 of 1976. I. T. Case No. 57 relates to the assessment year 1968-69, whereas I. T. Case No. 58 pertains to the assessment year 1969-70,

(2.) THE assessment years concerned in these cases commenced on 1st April, 1968, and 1st April, 1969. The returns of total income under Section 139 (1) of the I. T. Act, 1961 (hereinafter referred to as "the Act"), had to be filed up to 30th June, 1968, and 30th June, 1969, respectively, but the same were filed only on 17th March, 1973, in response to the notice under Section 148 of the Act. The assessments were completed by the ITO on the basis of returns which were filed by the assessee. In the assessment, the assessee was charged interest for the period from 1st April, 1968, to 16th March, 1973, on the ground that the returns due under Section 139 (1) of the Act had been filed after delay.

(3.) THE assessee moved separate applications on 20th June, 1973, seeking the cancellation of the orders of levy of interest in the two assessments made by the ITO under the provisions of Section 154 of the Act. The said applications were dismissed by the ITO and appeals against the said order were also dismissed by the AAC.