Decided on March 05,1982



R.L. Segel, Judicial Member - (1.) THESE appeals by the assessee, Shri Ramjilal Shivhare of Morena, an individual, directed against the consolidated order of the AAC, Gwalior Range, Gwalior, dated 25-8-1980, which have been consolidated, heard together and are being disposed of by a common order for the sake of convenience. The years of assessment involved are 1965-66 to 1970-71, 1973-74 and 1974-75.
(2.) The ITO had completed the original assessments of the assessee for the accounting periods relevant to the assessment years 1966-67 to 1970-71, on 26-6-1971, with the following dates of the filing of the returns for those years: JUDGEMENT_1696_TLIT0_19820.htm It appears that the business and the residential premises of the assessee were searched under Section 132 of the Income-tax Act, 1961 ('the Act') on 10-2-1974. Thereafter, the assessee on 20-3-1974, filed the original return for the accounting period relevant to the assessment year 1965-66 and revised returns for the assessment years 1966-67 to 1971-72 and 1973-74 detailing the following income, compared to the income as per the original returns : JUDGEMENT_1696_TLIT0_19821.htm Admittedly, the revised returns filed by the assessee for the accounting periods relevant to the assessment years up to 1971-72 were not valid in law, as the assessments for those years were not pending on 20-3-1974. So was the position regarding the return for the assessment year 1975-76 because the time for filing the voluntary returns had already elapsed. Noticing this position the ITO issued notices under Section 148 of the Act for the assessment years 1965-66 to 1971-72 on 26-3-1974, which were served on the assessee on 29-3-1974 with a view to assess income, which, according to him, had escaped assessments, in view of the revised returns filed by the assessee.
(3.) ON 8-10-1974, the Voluntary Disclosure of Income and Wealth Ordinance, 1975, was promulgated. The assessee, taking advantage of the said Ordinance, filed a declaration under Section 14(1) of the Act of the said Ordinance, on 21-12-1975, declaring the following undisclosed incomes : JUDGEMENT_1696_TLIT0_19822.htm ;

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