9911796707
TMI Blog1984 (9) TMI 101X X X X Extracts X X X X X X X X Extracts X X X X ..... is directed against the order of the Commissioner (Appeals) dated 16-12-1982, by which he confirmed the order passed by the ITO under section 154 of the Income-tax Act, 1961 (' the Act '). 2. While making the original assessment, the ITO had given credit for the deposit of Rs. 26,638 made on 15-12-1976 under the Companies Deposit (Surcharge on Income-tax) Scheme, 1976. Subsequently, the ITO wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d I confirm the order under section 154." Hence, this appeal by the revenue. 4. Before us, it was contended by the learned counsel for the assessee that the lower authorities failed to appreciate the provisions of the relevant Scheme. He urged that in accordance with the provisions of para 3 of the Companies Deposit (Surcharge on Income-tax) Scheme, a deposit in lieu of payment of surcharge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vided that deposit in lieu of payment of surcharge on income-tax was to be made at any time before the last instalment of advance tax was due in the case of the assessee, that is to say, by 14-12-1976. He submitted that the ITO committed a clear mistake in the original assessment and, therefore, the lower authorities were justified in applying the provisions of section 154. 5. We have heard the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e said deposit was made before the time allowed for payment of instalment of advance tax. In any way, it is a controversial point at issue and, therefore, in our opinion, the ITO could not be said to have committed any glaring mistake while allowing credit for the deposit of Rs. 26,638 in the original assessment. Accordingly, it has to be held that the provisions of section 154 had no application ..... X X X X Extracts X X X X X X X X Extracts X X X X
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