9911796707
TMI Blog2011 (1) TMI 340X X X X Extracts X X X X X X X X Extracts X X X X ..... f 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 application under section 154 of the Act before the first respondent to allow the set off for brought forward loss. A writ petition W. P. (C) No. 4406/2003 was filed for quashing of the notice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 disputed at the Bar. The stay order continues. 4. Section 281B reads as follows : "281B. Provisional attachment to protect revenue in certain cases.-(1) Where, during the pendency of any proceeding for the assessment of any income or for the assessment or reassessment of any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eedings 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 attachment is six months and the said provision categorically stipulates that provisional attachment ceased to have effect after the expiry of the order, i.e., six months from the date of the order made under sub-section (1). It is not disputed at the Bar when the exercise ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
