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2023 (3) TMI 1464 - MADRAS HIGH COURTViolation of principles of natural justice - order of assessment had travelled beyond the scope of show-cause notice - as argued while the order rejects the petitioner's entitlement to carry-forward long term capital loss, such a proposal does not form part of pre-assessment show-cause notices - HELD THAT:- The Division Bench of this Court in the case K.S.Shivji [1965 (4) TMI 96 - MADRAS HIGH COURT] has, reiterated the position that when a statutory remedy is available to an assessee, he must first resort to it and in a case where appeal remedy was availed, Courts are normally reluctant to interfere with an order of assessment. The Court has, also observed that there might be cases where the aforesaid rule may not outweigh other considerations which may compel interference. In that case they were of the view that such interference was warranted. In the present case, the revenue impact of the disallowance in the order of assessment is nil, though the assessee is aggrieved by the fact that the entitlement to carry forward losses has been rejected. That apart, the power of an appellate authority under the Act is co-terminus with that of an Assessing Officer and hence any lacunae in procedure can well be corrected even at that stage. There are thus, in our considered view, no extraordinary circumstances in the present case to persuade to intervene in the impugned order and thus leave it to the petitioner to pursue the statutory appeal that it has filed. WP dismissed.
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