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TMI Blog2024 (10) TMI 1084X X X X Extracts X X X X X X X X Extracts X X X X ..... stalments as stated hereinbefore. The assessee, made default of payment in the payment of third instalment and could not pay by or before 30.09.2017, which was the stipulated date under the scheme and initial notifications. However notification dated 13.02.2019 was issued by the Central Government and extended date of payment of such amount till 31.01.2020, along with interest on such amount @1% for every month. The notification was brought into force with effect from 01.06.2016 retrospectively. Assessee paid the balance tax along with interest as per CBDT e-receipt for e-tax payment. Thus, we hold that the assessee has validly deposited the tax, surcharge, interest, penalty as required under IDS-2016 r/w notification dated 13.12.2019. CIT( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 87,00,000/- Business 2011-12 10,00,000/- Business 2012-13 80,00,000/- Business 2014-15 10,00,000/- Business (ii) Assessee worked out the total amount of tax payable after aforesaid declaration of income at Rs. 84,15,000/-. The Principal Commissioner of Income Tax-2 (PCIT)-Thane, issued form No. 2 dated 07.10.2016 and requested the assessee to pay the tax amount in three instalment as specified u/s. 187(1) of the finance Act, 2016. The tax liability was to be discharged by the assessee by paying (i) Rs. 21,03,750/- (25%) by November 2016, which was paid by the assessee vide challan dated 21.11.2016 (ii) Second instalment of Rs. 21,03,750/- (25%) by March 2017, which was paid in March 2017. The third instalment of Rs. 42,07,500/- (50%) by Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to ill health, he could not perform his professional duties and could not pay his remaining payment and requested pardon for his inability to pay the residual balance of Rs. 17,79,500/- before the stipulated date and further requested for time to make the payment. After considering the submission of the assessee, learned assessing officer made addition of Rs. 80,00,000/- as income from undisclosed sources. 3. Aggrieved, assessee preferred an appeal before learned CIT(A), on 22.12.2018. During first appellate proceedings, central government issued notification no. 103/2019/F.No. 370149/159/2019 TPL dated 13.12.2019 and extended the date of payment till 31.01.2020. The notification was made application with effect from 01.06.2016 i.e the dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... impugned order. 9. The main point for consideration under appeal is as to whether the reopening of the assessment for the A.Y. 2012-13 and the assessment order passed in consequence thereof is bad in law. 10. It is worth noting that the Central Government framed the scheme for declaration of undisclosed income under the finance Act-2016 and was called The Income Declaration Scheme-2016. Section 183 of the said scheme envisages declaration of undisclosed income, the tax, surcharge and penalty payable under the scheme in respect of the undisclosed income, shall be paid on or before a date notified by the central Government in the official Gazette. The scheme subsequently provided that any amount of tax paid u/s. 184 in proceeding of the decl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment, appropriate relief could be afforded to the petitioner. Hon ble Supreme Court granted this limited relief. The applicability of Central Government notification dated 13.12.2019 was not the issue before the Hon ble Apex Court. Learned CIT(A) has, misread the judgement of Hon ble Supreme Court and declined the relief sought by the assessee which was within the four walls of the aforesaid scheme/notification. Learned CIT(A) thus failed to consider the notification dated 13.02.2019 in its true sense. Revenue has neither disputed the genuineness of the aforesaid notification dated 13.12.2019 nor disputed the entire payment of Rs. 84,15,000/- along with interest of Rs. 4,98,260/- made by assessee as depicted at page 23 to 29 of assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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