TMI Blog2011 (1) TMI 340X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed onMarch 31, 2001. On June 25, 2001, an order of assessment was passed under section 143(3) of the Act for the assessment year 2000-01. On October 21, 2002, the petitioner on the basis of the said assessment orders submitted an application for grant of refund. At this juncture, on January 17, 2003, a notice under section 148 of the Act was issued for the assessment years, viz., 1998-99 to 2000-01. When the matter stood on January 24, 2003, a notice under section 148 of the Act was issued for the assessment years 1996-97 and 1997-98. On July 3, 2003, reassessment order under section 143(3) of the Act was passed for the assessment years 1997-98 to 2000-01. Learned counsel for the petitioner has pleaded that the petitioner submitted an app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , to protect the interest of the Revenue. The following refunds determined in you (sic) case are provisionally attached for a period of 6 months i.e. up to January 25, 2006. Details of property S. No. Assessment year Amount of refund (Rs.) 1. 1998-1999 1,09,03,472 2. 1999-2000 12,44,152 3. 2001-2002 2,49,67,988 4. 2004-2005 14,19,546 3,85,35,158 3. At this juncture, we may usefully use that the initiation of the proceeding in block assessment has been challenged before the apex court and it was directed that audit can go on but no final assessment order be passed. This is not di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommencing from the date on which such application is made and ending with the date on which an order under sub-section (1) of section 245D is made shall be excluded from the period specified in the preceding proviso : Provided also that the period during which the proceedings for assessment or reassessment are stayed by an order or injunction of any court shall be excluded from the period specified in the first proviso. 5. The third proviso has been inserted by the Finance (No. 2) Act, 2009 (33/ 2009) with retrospective effect from April 1, 1988. The order of attachment, which was reproduced hereinabove was passed on July 28, 2005. Subsequently under sub-section (2) to section 281B of the Act, the life span of said provisional attachme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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