TMI Blog2013 (10) TMI 311X X X X Extracts X X X X X X X X Extracts X X X X ..... r is hereby quashed – Revenue is free to move an application before the AAIFR for seeking its permission for affecting the recovery under the assessment order, and shall act in accordance with the permission as may be granted by the said Board – Decided in favor of Assessee. - Writ Petition No. 2392 of 2013 - - - Dated:- 14-2-2013 - Krishn Kumar Lahoti and M.A. Siddiqui, JJ. Shri Sumit Nema, Counsel, for the Petitioner. Shri Sanjay Lal, Counsel, for the Respondent. ORDER Shri Lal accepts notice and submits that in view of the grievances raised by the petitioner, matter may be heard finally and can be disposed of today itself. 2. The contentions of the petitioner are that :- (a) the petitioner s total income was assessed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the operation of the order Annexure P-5 is still pending before the respondent No. 3. It is submitted by Shri Nema that the respondent No. 3 may be directed to decide the appeal expeditiously and till then entire recovery proceedings against the petitioner may be stayed. 3. Shri Lal, learned counsel appearing for the Department drawn our attention to para 4 of the order Annexure P-5 and submitted that it is a matter of concealment of sale, the Assessing Officer has rightly made addition in the income and the petitioner is liable to make payment of Income Tax. It is submitted that as there was no stay of recovery proceeding, the respondent No. 1 has rightly attached the bank accounts of the petitioner. 4. Before proceeding further, it w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epartment, petitioner herein had concealed the sale of 34859 tyres valued at Rs. 17,93,96,057/- but it appears that the entire amount of this sale has been added by way of income in the order Annexure P-5. A Division Bench of this Court in Balchand Ajit Kumar (supra), considering the similar controversy held that the total sale could not be recorded as the profit of the assessee. The next profit rate has to be adopted and once it is adopted, the same can be treated as the income of the assessee. But in the present case it appears that the entire price of the tyres 34859 has been taken into consideration as profit of the petitioner which is apparently not correct. So far as the contention of the petitioner that the petitioner s matter is pen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he appeal filed by the petitioner against the assessment order Annexure P-5 for the assessment year 2007-08 dated 31-12-2009. 2. If any such application is filed, the respondent No. 3 shall consider the prayer of the petitioner and if it is not possible for respondent No. 3 to hear and decide the appeal expeditiously, then to consider the prayer of the petitioner for grant of stay. This exercise shall be made by respondent No. 3 within a period of 30 days from the date of filing of such an application. 9. So far as attachment of the bank accounts and recovery proceedings initiated against the petitioner is concerned, the Apex Court in Tata Davy (supra) has specifically held that until and unless permission is obtained fr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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