- (1.) This writ application is directed against the orders dated June 19, 1996, August 21, 1996 passed by the Respondent No. 2 under Section 271B of the Income Tax Act, 1961 as also the order dated May 26, 1997 passed under Section 264 of the Income Tax Act, 1961by the Respondent No. 1 for the assessment years 1993-94 and 1994-95.
(2.) The facts of the case in a nutshell are as under: The Petitioner No. 1 was a private limited company and the Petitioner No. 2 was the Managing Director of the Petitioner No. 1. The profit and loss account, balance sheet as on March 31, 1993 and the audit report of the Petitioner No. 1 were signed by the auditor on August 30, 1993. The due date for filing return for the assessment year 1993-94 was December 31, 1993. A return for the assessment year 1993-94 was filed on December 14, 1994 on behalf of the Petitioner company together with tax audit report in form No. 3CD of the Income Tax Act, 1961 (hereinafter referred to as the said act) enclosing the aforesaid audited profit and loss account and balance sheet as on March (sic)1993 duly signed by the auditor on August 30, 1993. A communication dated December 8, 1995 was received by the Petitioner company from the Respondent authority determining the refundable amount of Rs. 783/- under Section 143(1)(a) of the said Act. The Respondent No. 2 passed a further order dated March 18, 1996 under the provisions of Section 143(l)(a) read with Section 154 of the said Act for the purpose of rectification of mistake revising the total income and tax payable by the Petitioner company. As a result, whereof a sum of Rs. 14,664/- was assessed as payable by the Petitioner company.
(3.) Similarly, profit and loss account, balance sheet as on March 31, 1994 and a audit report of the Petitioner company were duly signed by, the auditor on August 30, 1994. Due date for filing return for the assessment year 1994-95 was November 30, 1994. A return was filed by the Petitioner company for the assessment year 1994-95 on August 29, 1995 together with tax audit report in form No. 3CD of the said act enclosing the aforesaid audited profit and loss account and balance sheet duly signed by the auditor on August 30, 1994.;