Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (4) TMI 909 - RAJASTHAN HIGH COURTTax liability under The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 - Later on the liability towards deposit of tax has been relaxed by drawing a proceedings under Section 30 of the Act of 2015, whereby, major part of the tax liability was kept in abeyance - as contended that the authority, who had initiated penalty proceedings under Section 41 of the Act of 2015 ought to have stayed further proceedings awaiting the order that may be passed in appeal.HELD THAT:- We find that the petitioner has suffered a tax liability after adjudication by the Assessing Officer culminating in issuance of assessment order on 31.03.2021. Aggrieved by that, an appeal has been preferred by the petitioner before the Appellate Authority and there is no stay order placed before this Court by the petitioner. An order dated 05.01.2022 by an officer in the office of the Joint Commissioner of Income-Tax Central Circle ADDL/JCID Central, Jaipur has been placed and relied upon to submit that tax liability to some extent has been kept in abeyance. However, keeping in view the submissions of learned counsel for the respondent regarding mandate of Section 47 of the Act of 2015 with regard to bar of limitation for completion of penalty proceedings, if no order is passed after expiry of a period of one year from the end of the financial year in which the notice for imposition of penalty is issued under Section 46 of the Act of 2015 and further taking into consideration that the petitioner does not challenge the jurisdiction of the authority in initiating penalty proceedings but only seeks to invoke his discretion not to proceed with penalty proceedings till pendency of appeal, we are not inclined to stay the penalty proceedings. However, if any coercive steps are initiated after passing of the penalty proceedings, it would be open for the petitioner to move appropriate applications before the authority in accordance with law.
|