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2013 (9) TMI 52 - HC - Income TaxJurisdiction of Settlement commission - Scope of the term 'Case' - No assessment proceedings were pending on the date of application - Time to issue notice u/s 143(2) to complete the assessment under Section 143(3) expired - Held that:- , though there may be some merit in the contention raised on behalf of the revenue viz. that where time limit to issue notice under Section 143(2) of the said Act has expired, then in such a case, it cannot be stated that assessment is pending before the Assessing Officer. This is particularly so as under Section 246A of the said Act, an appeal can be filed by the Assessee to the Commissioner of Income Tax (A) from an intimation received under Section 143(1) of the Act. Therefore, even if the notice of intimation for the relevant year is in appeal before an Appellate Authority, it would still be open to an assessee to file an application before the Settlement Commission so long as no order of assessment under Section 143(3) of the said Act has been passed within the period of time provided under Section 153 of the Act. Binding Nature of Circular - Held that:- as the Circulars issued by the CBDT are binding upon the authorities under the Act, we see no reason to interfere with the order of Settlement Commission as the Apex Court has taken a view in respect of Income Tax matters in Catholic Syrian Bank Ltd. v/s. CIT [2012 (2) TMI 262 - SUPREME COURT OF INDIA] that Circulars issued by the CBDT which are beneficial to the assessee must be applied Binding nature of the Circular which is contrary to the statutory provisions of the Act - Applicability of decision of Apex Court in the matter of Commissioner of Central Excise v/s. Ratan Melting & Wire Industries [2008 (10) TMI 5 - SUPREME COURT OF INDIA] - Held that:- In the aforesaid decision, the Constitutional Bench of the Apex Court was considering the binding nature of a circular issued under the Central Excise Act, 1944 which were contrary to decisions rendered by the Supreme Court. The above decisions are not applicable to the facts of the present case inasmuch as our attention has not been invited to any decision of the Apex Court or of any High Court which has taken a view contrary to the view expressed by the CBDT in a Circular dated 12 March 2008. Thus, there being no ruling of the Apex Court or any High Court taking a view contrary to the CBDT Circular dated 12 March 2008, the circular has a binding force upon the revenue and they cannot contend to the contrary. The decision of the Apex Court in the matter of Ratan Melting & Wire Industries (2008 (10) TMI 5 - SUPREME COURT OF INDIA) distinguished. - Decided in favor of assessee.
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