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 incriminating documents and books of accounts were seized. Notice u/s 158BC of the Act was served upon these assessees on 8.10.2002. In response, assessee filed retu...