| Case ID |
438539f0-7626-495c-8a4e-f5fdebc9e076 |
| Body |
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| Case Number |
O.P. No. 10263 of 1992 |
| Decision Date |
Dec 12, 1996 |
| Hearing Date |
|
| Decision |
The Kerala High Court dismissed the writ petition filed by Santhosh Electricals regarding the levy of interest under sections 139(8) and 217 of the Indian Income Tax Act, 1961. The court found that the assessments for the years in question were based on returns filed in response to a notice under section 148, which constitutes a regular assessment. The court upheld the Commissioner of Income-tax's decision to reject the applications for waiver of interest, stating that no valid reason had been presented by the petitioner. The court reinforced that the assessments made for the first time under section 147 are considered regular assessments, thus validating the interest levied. Consequently, the petition was dismissed without any order as to costs. |
| Summary |
In the case O.P. No. 10263 of 1992, the Kerala High Court addressed the issue of interest levied on Santhosh Electricals under the Indian Income Tax Act, 1961. The petitioner, a partnership firm engaged in electrical repair works, contested the interest applied on assessments made following belated returns filed pursuant to a notice under section 148. The court held that the assessments were regular and that the interest levied was valid. The ruling emphasized the importance of timely filing of returns and the implications of late submissions. This case is significant for tax practitioners and businesses regarding compliance with tax regulations and understanding the legal framework surrounding interest assessments. The court's decision serves as a precedent for future cases involving similar issues of tax assessments and interest waivers, making it an essential reference point in tax law. |
| Court |
Kerala High Court
|
| Entities Involved |
|
| Judges |
G. SIVARAJAN
|
| Lawyers |
P.C. Chacko,
P.K.R. Menon,
N.R.K. Nair
|
| Petitioners |
SANTHOSH ELECTRICALS
|
| Respondents |
ANOTHER,
Income Tax OFFICER
|
| Citations |
2000 SLD 19,
2000 PTD 1645,
(1998) 234 ITR 227
|
| Other Citations |
Lally Jacob v. ITO (1992) 197 ITR 439 (Ker.)
|
| Laws Involved |
Indian Income Tax Act, 1961,
Indian Income Tax Rules, 1962,
Constitution of India
|
| Sections |
139,
209,
217,
40,
117A,
226
|