9911796707
TMI Blog1987 (7) TMI 177X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1976. In Form A in which particulars were to be given, the assessee showed particulars of the income declared which was Rs. 25,000, income-tax paid which was Rs. 6,250 and also the security deposit made which was Rs. 1,250, the last mentioned amount being under section 3(3), The Declaration was dated 20-12-1975. According to the assessee, the column of the 'assessment years to which the income relate' was left blank and later on when it came to notice several years later, the assessee's representative was asked by the ITO concerned to give the particulars and by inadvertence he stated that the assessment year involved was 1976-77. 3. In due course, the ITO took the view that the amount of Rs. 25,000 had escaped assessment for the yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i.e., for the previous year which was to end on 31-3-1976 on 31-12-1975 when the time for filing the return itself had not elapsed and, therefore, he held that there was no warrant for treating the amount of Rs. 25,000 as income for the year 1976-77 and he, therefore, deleted the addition. 4. The Revenue is in appeal. The facts as put forth by the assessee were summarised in the form of a letter dated 14-6-1986 at the hearing before us and a copy of the said letter was also forwarded to the ITO for his comments. As far as the making of the Declaration of 20-12-1975 was concerned, offering an amount of Rs. 25,000, payment of tax of Rs. 6,250 and deposit of security of Rs. 1,250 all on 20-12-1975, the ITO has stated that these were borne o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... "Statement of voluntarily disclosed income: -------------------------------------------------------------------------------------------------------------------------------------------------- Serial Amount of Assessment If the income is Remarks No. income year(s) to represented by cash declared which the (including bank income deposits), bullion, relates investment in shares, debts due from other persons, commodities or any other assets --------------------------------------- Descrip- Name Amt. tion of in asset which held -------------------------------------------------------------------------------------------------------------------------------------------------- 1 2 3 4 5 6 7 ------------------------ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income.--(1) Subject to the provisions of this Act, where any person makes, on or after the date of commencement of this Act but before the 1st day of January, 1976, a declaration in accordance with the provisions of section 4 in respect of any income chargeable to tax under the Indian Income-tax Act, 1922 (XI of 1922) or the Income-tax Act for any assessment year-- (a) for which he has failed to furnish a return under section 139 of the Income-tax Act, or (b) which he has failed to disclose in a return of income furnished by him under the Income-tax Act before the date of commence ment of this Act, or (c) which has escaped assessment by reason of the omission or failure on the part of such person to make a return under the Indian Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the income related had to be stated. The statement, assuming it was made in the original declaration and we proceed on such assumption, on the state of the evidence that it related to the assessment year 1976-77 was clearly, in our view, a mistake for an assessment year prior to 1976-77 whatever it may be. It is not necessary for us to fix that assessment year because as long as it is prior to the assessment year 1976-77, the income shown in the Declaration, namely, Rs. 25,000 cannot be assessed in the assessment year 1976-77. Looking to the statute involved, the purpose for which such statute was introduced and the types of omissions to which alone such statute extended and the date by which the declaration was to be made, namely, before ..... X X X X Extracts X X X X X X X X Extracts X X X X
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