1980 (1) TMI 139

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..... t, 1961 for the asst. yr. 1976-77. 2. On 7th Dec., 76 the assessee filed a return of income admitting Rs. 93,409. The assessment was completed on 13th July, 77 on a total income of Rs. 97,000. The ITO noticed that the assessee did not comply with the provisions of s. 140A of the Act in that the tax due as per the return of Rs. 33,936 was not paid at the time when the return was filed. He issued .....

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..... eipt of share income from firms and that he had no other source of income. As per the return filed on 7th Dec., 76, the assessee should have paid a tax of Rs. 33,936 under s. 140A. In the reply to the show-cause notice the assessee had mentioned that there was no sufficient credit balance in the capital account of the partners and he was also unable to raise loan to pay the tax. The Income-Tax Off .....

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..... Rs. 97,000 on which a tax demand of Rs. 43,306 was raised, the assessee has applied to the IAC, Tirunelveli, pleading inability to pay the tax for want of funds and praying for permission to pay the tax demanded in six monthly instalments commencing from 31st Oct., 77. The IAC by order, dt. 28th Nov., 77, has considered the above request of the assessee and granted the facility of payment of tax b .....

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