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2015 (12) TMI 201 - PUNJAB AND HARYANA HIGH COURT

2015 (12) TMI 201 - PUNJAB AND HARYANA HIGH COURT - TMI - Extension of time for deposit of the arrears of tax - Held that:- Undisputedly, order under Section 245D(4) of the Act was passed by the Income Tax Settlement Commission on 12.12.2014 asking the petitioner to pay the amount of tax together with interest in four monthly equal instalments with the last instalment payable by 31.3.2015. It was also directed that in case of failure to make the payment within the prescribed period, the immunity .....

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nstalment by 31.7.2015. The petitioner could not make the payment by the due date. Instead he filed the present petition in this Court.

The petitioner has already been given sufficient opportunity to deposit the amount. Even some part of the amount has been realised from the sale of the jewellery of the petitioner. The impugned order has been passed by the Settlement Commission after considering the overall facts and circumstances of the case. Learned counsel for the petitioner has n .....

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14 passed by respondent No.2 vide which his application dated 30.3.2015, Annexure P.13 seeking 14 months of extension of time for deposit of the arrears of tax has been partly allowed granting time only upto 31.7.2015. 2. A few facts relevant for the decision of the controversy involved as narrated in the petition may be noticed. The petitioner is a dealer in real estate. He is dealing in sale and purchase of immovable property/land at Amritsar. A search was conducted on 21.8.2009 at the busines .....

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a notice for the assessment year 2007-08 to the petitioner under Section 142 (1) of the Act asking him to produce his books of account. The petitioner filed reply to the notice and submitted that all assessment proceedings pending against him stood abated in view of second proviso to section 153A of the Act. The respondents issued notice under section 153A(1) of the Act to the petitioner to prepare true and correct return of income for the assessment years 2004-05 to 2010-2011. Notices under Se .....

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Officer to compute tax alongwith interest in accordance with the order passed by it. Thereafter, respondent No.2 issued demand notice under Section 156 of the Act for assessment years 2004-05 to 2010-11. The petitioner had already paid the tax with respect to the assessment years 2004-05 to 2008-09 and there were refunds for the said assessment years which were adjusted against arrears of tax. The total demand raised for the assessment years 2004-05 to 2012-13 came to ₹ 70,12,607/-. At the .....

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he petitioner being in financial crunch was unable to pay the due amount by the stipulated date. Therefore he filed representation before respondent No.2 dated 24.3.2015 for extending the period by 14 months to clear the entire amount in instalments. He even met respondent No.2 personally but no action was taken. Vide order dated 23.4.2015, the time was granted by the Settlement Commission only upto 31.7.2015 to pay the whole of the outstanding amount. Vide order dated 30.7.2012, the petitioner .....

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before the Income Tax Settlement Commission on 28.3.2015 and 31.3.2015 seeking further extension of time of 14 months for payment of taxes. By that time, the petitioner had already defaulted three instalments. Vide order dated 23.4.2015, the Settlement Commission disposed of the applications directing the petitioner to pay the amount of ₹ 32,03,808/- on or before 10.5.2015 and to pay the final instalment of ₹ 21,08,799/- by 31.7.2015. The petitioner instead of making payments of the .....

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