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2014 (4) TMI 169 - DELHI HIGH COURTSick company - Director General of Income Tax declined the reliefs sought by the petitioner company - Draft Rehabilitation Scheme (DRS) was devised and eventually sanctioned on 14.01.2003 - The complaint of the petitioner is that the previous order dated 26.09.2012 requires determination and such determination was to be based on materials called for, and particulars given to the writ petitioner – Held that:- The pleadings do not anywhere disclose that the revenue called for the views or granted any opportunity to the assessee to present its views –it is necessary to examine whether the liability u/s 41(1) and capital gains liability etc. is confined to one year and if so the quantum, and whether such liability enured in respect of further ass essment periods – the revenue should grant hearing and consider all materials on record, in respect of which assessment orders have been made as well as wherever the returns were made by the assessee – Decided in favour of Assessee.
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