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TMI Blog2020 (2) TMI 1286X X X X Extracts X X X X X X X X Extracts X X X X ..... that the notice of demand under Section 156 of the Act shall contain a provision informing the concerned assessee that if he did not pay the amount within the period specified, he would be liable to pay simple interest at one and one-half percent for every month or part of a month from the date commencing after end of the period in accordance with Section 220(2) of the Act. Designated authority is within his powers in adding up interest under Section 220(2) of the Act though not quantified at earlier point while processing application under the Kar Vivad Samadhan Scheme, 1998. - WRIT PETITION NO. 1224 OF 1999 - - - Dated:- 13-2-2020 - UJJAL BHUYAN MILIND N. JADHAV, JJ. Mr. K. Gopal a/w Mr. Tanmay Phadke Ms. Neha Paranjpe fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act whereafter an order of penalty was passed on 19.3.1991 whereby penalty of ₹ 1,98,540.00 was imposed on the petitioner. 7. Aggrieved by the order of penalty, petitioner preferred appeal before the Commissioner of Income Tax (Appeals) i.e the first appellate authority. However, the appeal was dismissed on 30.3.1994 confirming the order of penalty. 8. Petitioner thereafter preferred further appeal before the Income Tax Appellate Tribunal which was pending. 9. It may be mentioned that Finance (No. 2) Act, 1998 introduced Kar Vivad Samadhan Scheme, 1998 w.e.f 1.9.1998. As per the said scheme, assessees whose appeals were pending and whose tax amounts were due were provided an opportunity to make a declaration to obtain wai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 97 to ascertain as to whether any order was passed therein pertaining to levy of interest. 15. Today when the matter is called upon, Mr. K. Gopal, learned counsel for the petitioner submits that considering the long efflux of time and due to natural calamities, petitioner is not in a position to furnish the order of penalty. However, he has taken us to Section 156 of the Act which deals with notice of demand and thereafter Rule 15 of the Income Tax Rules, 1962 which says that notice of demand under Section 156 shall be in Form No. VII. Clause (3) of Form VII provides that the notice of demand under Section 156 of the Act shall contain a provision informing the concerned assessee that if he did not pay the amount within the period specifi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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