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2005 (5) TMI 39 - HC - Income TaxPeriod for payment of tax demand – recovery of tax -Assessing Officer issued a notice of demand u/s 156 - However, he reduced the period for payment of the tax to 7 instead of allowing 30 days, as contemplated under section 220. The notice of demand was issued on that very date, i.e., March 21, 2005 - there was no material before the Assessing Officer which could lead a person of common prudence to believe that the demand would become unrecoverable or that it would otherwise be detrimental to the Revenue – belief of the Assessing Officer should not be based on untenable apprehensions or assumptions - Held that the reasons to believe that grant of full period of 30 days for payment of tax to the assessee would be detrimental to the Revenue, are mere assumptions - Thus, we would quash the order-cum-direction issued by the Assessing Officer dated March 21, 2005, reducing the period for payment of tax demand raised upon the assessee under section 156
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