9911796707
TMI Blog1998 (9) TMI 23X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to us at the instance of the Revenue is as to whether on the facts and in the circumstances of the case, the Appellate Tribunal was correct in law in holding that the interest under sections 139(8) and 217 was not leviable in respect of an assessment made under section 147. The assessment year is 1976-77. The assessee is an individual carrying on real estate business. As he did not file any r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Gopalaswami Mudaliar v. Fifth Addl. ITO [1963] 49 ITR 322 while dealing with section 34 of the 1922 Act which corresponds to section 147 of the 1961 Act held that where the assessee fails to submit any return of income during the relevant assessment year and an assessment is for the first time made on him under section 34(1)(a) of the 1922 Act read with section 23, interest under section 18A(6) wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n done. The Income-tax Officer had issued a notice calling for a return and thereafter the return had been filed. The assessment so made for the first time was in fact a regular assessment and the applicability of sections 139 and 217 of the Act are not excluded in respect of such an assessment. Though the Karnataka High Court in the case of Charles D'Souza v. CIT [1984] 147 ITR 694, has taken a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd the return was filed only after the notice was issued. In the return filed the assessee admitted the assessable income and tax was levied thereon. The assessee though having a taxable income, had failed to pay the advance tax and had also committed delay in filing the return. The interest charged for such failure was in accordance with the policy as also the provisions of the Act. The levy of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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