NDLI: Commissioner of Income Tax, Lucknow Vs. Onkar Saran and Sons

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	income tax
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Income Tax Act, 1961 (43 of 1961)
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Dismissed
Headnote	Income-tax Act, 1961-Sections. 271(1)(c), 148, 139(2)- lmposition of penalty of concealment of income in the return-Whether the law as it stands on the date of filing of the original return applicable or the law as it stands on the date of filing of return in response to notice u/s. 148 applicable.The respondent- Hindu Undivided Family filed returns for the assessment years 1961-62 and 1962-63 showing the income of Rs. 13, 935 and Rs. 24,943 respectiyely. The Income Tax Officer determined the income of the respondent of Rs. 28,513 and Rs. 28,463 respectively for the assessment years. Subsequently, when the Income Tax Officer came to know that the assessee respondent had not disclosed certain income from the sale of lands in its returns, he issued notice u/s. 148 of the Income-tax Act, 1961 for the assessment years on 9.3.1965. On 27.2.1969, the assessee filed its returns disclosing the same income as in . the original returns, viz. Rs. 18,935 and Rs. 24,943 respectively for the two assessment years. The I.T.O determined the income for the assessment years at Rs. 52,185 and Rs. 44,017 respectively, which was reduced on further appeals to Rs. 41,923 and Rs. 34,547 respectively for the two assessment years. The I.T.O. after making the re-assessment also initiated proceedings u/s. 271(1)(c) of the Act, for the failure on the part on the assessee to return the income from sale of lands. Originally he was of the opinion that the income from the lands constituted "business income" , but later it was held that it was assessable as "Capital Gains". The assessee-respondents filed appeals before the Income-tax Appellate Tribunal, which reduced the penalty to 20 per cent of the tax payable on the amounts of "Capital Gains" included in the assessments and not disclosed in the returns. It held that since the penalty proceedings related to the assessment years 1961-62 and 1962-63, the provisions of the Income· tax Act as they stood respectively on 1.4.1961 and 1.4.1962 would be applicable to determine the penalty and not the amended provisions which came into force w.e.f. 1.4.1968. When the matter was referred to the High Court, it upheld the conclusion of the Tribunal, taking the view that the law applicable in regard to the imposition of penalty would be not the law as on the 1st April of the relevant assessment year but the law prevailing on the dates when the original returns were filed. On the refusal of the High Court to grant a certificate of fitness to appeal to this Court, the Revenue filed these appeals by special leave. The appellant Revenue contended that the penalty proceedings were initiated in the course of reassessment proceedings initiated u/s. 148 of the Act; that the returns were filed after 1.4.1968, by the assessee, in response to notices u/s. 148, which were to be treated as the original returns of income filed u/s. 139(2); that the assessee had failed to disclose in these returns the income from the sale of lands, which was taxable under "Capital Gains" head; that the relevant returns, having been filed after 1.4.1968, the provisions of section 271(1)(c) as amended in 1968 were attracted. The respondent- assessee submitted that in a case where a return filed u/s. 148 involved an element of concealment, the law applicable for imposition of penalty would be the law as in force at the time of the original - return filed for the assessment year and not the law as it stood on the date on which the return in response to the notice u/s. 148 was filed.
Judge	Hon'ble Mr. Justice S. Ranganathan
Neutral Citation	1992 INSC 75
Petitioner	Commissioner Of Income Tax, Lucknow
Respondent	Onkar Saran And Sons
SCR	[1992] 2 S.C.R. 187
Judgement Date	1992-03-13
Case Number	678

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