- (1.) HEARD counsel for the parties.
(2.) THE petitioner seeks quashing of impugned order dated December 15, 1984, annexure -6 to the writ petition passed by the Chief Commissioner of Income -tax, Lucknow, under Section 273A of the Income -tax Act, 1961 (briefly 'the Act'), in so far it relates to the assessment year 1977 -78. The facts, as briefly stated, are that return for the assessment year 1977 -78 became due on June 30, 1997, but that was filed by the petitioner on September 4, 1978, that is, with a delay of 14 months.
(3.) THE petitioner then made an application under Section 273A(1) of theAct for waiver of the penalty imposable under Sections 271(1)(i) and 271(1)(iii) and the interest under Section 139(8) of the Act, which wasrejected by the Commissioner for the reason that an addition of Rs. 5,000on ground of unexplained investment was made in the assessment.;