TMI Blog2017 (1) TMI 57X X X X Extracts X X X X X X X X Extracts X X X X ..... the provision of Section 179 are not applicable in the case of the petitioner can be raised by the petitioner before the revisional authority. - Writ Petition (M/S) No. 3272 of 2016 - - - Dated:- 7-12-2016 - V. K. Bist, J. For the Petitioner : Kartikey Hari Gupta, Advocate For the Respondent : Harim Mohan Bhatia, Advocate JUDGMENT V. K. Bist, J. Petitioner has approac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 26.02.1997 in Yogi Group of Companies including Yogi Leasing Finance Ltd. Consequent thereto, assessment order, under Section 158BC read with Section 143(3) dated 26.02.1999 was passed. According to the block assessment order, the company was assessed at an income of ₹ 5,99,76,759/- for the block period 01.04.1986 to 26.02.1997 by making various additions and disallowances. The said comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner was having no communication whatsoever with the Income Tax Authorities. Surprisingly, the petitioner received a notice under Section 179(1) dated 19.06.2015, whereby the petitioner was asked to show cause, why the demand of ₹ 3.90 crores, which was outstanding towards Yogi Leasing Finance Ltd., may not be recovered from the petitioner. Thereafter, vide letter dated 08.07.2015, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Income Tax Act. 4. Besides above, learned counsel for the respondent also submits that the search was made in the premises of the company in the year 1997 and the block assessment was made for the block period 1986-97 and for some of the period the company was Private Ltd. and for some of the period the company was Public Ltd. The same argument has also been advanced by the learned counsel f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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