9911796707
TMI Blog1990 (8) TMI 116X X X X Extracts X X X X X X X X Extracts X X X X ..... impugned order dated October 20, 1987, passed by the Commissioner under section 273A of the Income-tax Act, 1961. The petitioners were assessed to income-tax for the assessment years 1976-77 to 1981-82 under section 143(3). Since the returns of income were filed beyond the time prescribed under the Act, the Income-tax Officer had imposed penalty under section 271(1)(a) and charged interest unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eturns was that of interest paid to Pioneer Trading Co., a proprietary concern of Chandanmal Seshmal Doshi, one of the partners of the petitioner firm. As per the uncontroverted averments in the petition, the particulars of payment of interest to that concern were furnished during the original assessment proceedings with note that the said amount of interest was not required to be added under sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommon ground that if the view taken by the Commissioner is a possible view, this court may not like to interfere. The order of the Commissioner, thus, requires to be examined in this background. The only reason given by the Commissioner for holding that the returns filed originally were not voluntary and in good faith, and that full and true disclosure of income was not made is that the petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... btful proposition. In the above view of the matter, the impugned order of the Commissioner dismissing the application under section 273A on the ground that the petitioners had not voluntarily and in good faith made a full and true disclosure of their income requires to be and is hereby quashed. The Commissioner of Income-tax is, accordingly, directed to consider the application under section 273 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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