Just a moment...

Report
FeedbackReport
Bars
×

By creating an account you can:

Logo TaxTMI
>
Feedback/Report an Error
Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
TMI Blog
Home / RSS

2017 (7) TMI 1051

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.....2016, which is a proceeding given effect to the order passed by the Commissioner of Income Tax (Appeals) in I.T.A.No.794/2006-07, dated 20.12.2012. By the said order, the second respondent refused to effect the refund in the name of M/s.Silver Shoes Pvt. Ltd., as requested by the petitioner vide letter dated 27.01.2016. 3. The reason assigned by the respondent in the impugned proceedings, for taking such stand, is that for an adjustment, which took place in the year 1996-97, when there was real demands and upon deletion in the year 2012, the assessee in the year 2016, cannot claim that the assessment in the year 1996 was wrong and the Department ought to have adjusted the very same amounts three years ahead in another company. Further, it....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e Honourable Supreme Court, which was dismissed. Thus the criminal proceedings had come to an end. 6. Parallely, the petitioner had been pursuing the appeal remedy against the order of assessment for the year 1994-95 dated 29.03.1996 and the appeal was heard by the Commissioner of Income Tax (Appeals) and an order was passed on 20.12.2012. After taking note of all the factual details, the decision of this Court in Crl.A.No.231 of 2000 and the decision of the Honourable Supreme Court in Crl.A.No.480 of 2002 confirming the said judgment, the Commissioner of Income Tax (Appeals) held that neither the investigating authorities nor the Assessing Officer have brought anything on record to prove that the assets found, during the course of search ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... with the interest and the assets will be used to adjust the tax dues from the company and they should be paid interest. Further, it was pointed out that the proceedings is not a quasi judiciary proceedings and the letters have been issued by the second respondent due to gross misunderstanding of the relevance of seizure magazar. The company also addressed the Commissioner vide letter dated 28.01.2016, requesting that the letter issued to the petitioner offering the return of Rs. 40,88,845/- should be recalled and to recall the letter issued to the company asking them to remit the tax dues for the assessment years 1993-94 and 1994-95. After receiving these letters, the impugned order has been passed. Therefore, this Court has to test as to ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....epartment and during the course of search proceedings, there was certain seizures effected. The criminal prosecution initiated by the Director of Vigilance and Anti Corruption had ended in a conviction, which order was set aside in an appeal by judgment dated 11.07.2001. While setting aside the conviction, the Court recorded certain findings, which would be very relevant for the purpose of this case, as the subject matter of the criminal case was a sequel to the search and seizure operations conducted by the Income Tax Department. In the Criminal appeal, the learned judge held that on considering the whole evidence, he was of the view that the prosecution had not proved that the appellant (Writ Petitioner) was found in possession of the ass....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... was of the possession and the premises in question was jointly shared by the wife and the husband and the wife having accepted the entire recovery at her hand, it will not be proper to hold husband guilty. Therefore, in these circumstances, we are of the opinion that the view taken by the High Court appears to be justified and there are no compelling circumstances to reverse the order of acquittal. Hence, we do not find any merit in this appeal and the same is dismissed. 11. The finding rendered by the Honourable Supreme Court referred to supra is of utmost significance for considering the nature of relief in this writ petition. The Honourable Supreme Court recorded that the prosecution has not been able to lead evidence to establish that....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....criminal appeal as well as the Honourable Supreme Court and observed as follows: In view of the above discussion and the judgment of the Hon'ble Jurisdictional High Court, as confirmed by the Supreme Court, neither the investigation authorities nor the Assessing Officer have brought anything on record to prove that the above referred assets found during the course of search proceedings actually belonged to the assessee. Further, as mentioned above, the relevant source of income was already offered tot ax in the hands of the above two companies (M/s.Silver Shoes Pvt. Ltd. And M/s.Souther Rims Pvt. Ltd) and has reached finality. In view of the above, the Assessing Officer is not justified in bringing the above mentioned assets found dur....