COMMISSIONER OF INCOME TAX (CENTRAL) Vs. JAGPREET SINGH

JUDGEMENT

(1.) THIS appeal has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 (in short, "the Act") against the order dated 18.7.2006, Annexure A.3 passed by the Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for brevity, "the Tribunal") in IT (SS) A.No.68/Chandi/2004 for the block period 1.4.1988 to 5.10.1998.

(2.) ON 3.5.2007, the appeal was admitted to consider the following substantial question of law: -

(3.) LEARNED counsel for the revenue relying upon judgment of this Court in M.R.Singhal v. Assistant Commissioner of Income Tax, (2007) 290 ITR 162 submitted that where no advance tax or self assessment tax had been paid by the assessee and return was filed under Section 139(4) of the Act, the same could not be termed as a return filed before the due date specified under Section 139(1) for the purposes of Section 158BB(1) (c) of the Act. According to the learned counsel, the Tribunal was thus in error in reducing Rs.7 lacs while calculating undisclosed income of the assessee.