Provisions of Section 245D (2C) can be invoked only if the assessee does not deposit income tax payable on income disclosed

Issue before court:

• Whether assessee has defaulted in payment in payment of additional amount of income-tax payable on the income disclosed in the original application and provision of section 245D (2C) can be invoked in such circumstances.

Brief facts:

• A search u/s 132 was conducted in the premises of K.C. Group of cases on 5.10.2001. During the search beside cash of Rs. 2,16,500/- and stock worth Rs. 53,21 ,218/- ,a number of incrimina

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