9911796707
TMI Blog1998 (3) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... taken over by Oil and Natural Gas Corporation Ltd. (the petitioner herein) on February 1, 1994, consequent to the enactment of the Oil and Natural Gas Commission (Transfer of Undertaking and Repeal) Act, 1993. Relevant to the assessment year 1994-95, the petitioner has been assessed on 27th March 1997, resulting in tax liability of Rs. 843 crores plus interest of Rs. 575 crores making a total demand of Rs. 1,418 crores. The petitioner preferred an appeal before the Additional Commissioner of Income-tax and also sought for stay of the demand. The application was rejected on 22nd August, 1997. The appeal preferred before the CIT (Appeals) against the order declining stay of recovery was also rejected. However, the petitioner was allowed faci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the court for want of instructions from respondents Nos. 1 and 5 as on the day, inasmuch as he submits that the next date for hearing appointed is 2nd April, 1998, by which time he may have instructions. Learned counsel for the petitioner has invited our attention to the observations made by the Supreme Court in ONGC v. Collector a Central Excise (Civil Appeal Nos. 2058-59 of 1988 by order dated 7th January, 1994) (see pages 100-105 of the paper book). Their Lordships have observed : "It is only after such reference to the High Power Committee is made in the manner indicated that the operation of the order or proceedings under challenge shall be suspended till the High Power Committee resolves the dispute or gives clearance to the lit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 's reference complaining of its dispute and the failure on the part of the Income-tax Appellate Tribunal to dispose of the petitioner's application for stay, which is its statutory obligation to do and both these authorities are situated in Delhi within the territorial jurisdiction of this court. Other reliefs sought for are incidental to the main issue and necessarily flow as a consequence to failure of redresal of the principal grievance of the petitioner. Learned counsel for respondents Nos. 2, 3, 4 and 6 relied on the order dated October 11, 1990, passed by a Division Bench of this court in the case of Oil and Natural Gas Commission v. Union of India [1991] 188 ITR 368(CW No. 1677 and CM No. 2603 of 1990) wherein an objection to the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C) Inasmuch as the impugned order is the subject-matter of reference before the High Power Committee constituted in terms of the directions of the Supreme Court and taking the same view, we have passed an interim order dated March 2, 1998, it is clarified and directed that the operations of the orders under section 226(3) issued by respondent No. 3 shall remain suspended and those orders shall not be given effect to. We may, reiterate, as we have said in the order dated March 2, 1998, that the petitioner is a company wherein the Government has 96.5% shareholding. It is undisputedly a public sector undertaking providing an essential service to the community and inasmuch as coersive recovery under the impugned orders and issuance of orders u ..... X X X X Extracts X X X X X X X X Extracts X X X X
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