TMI Blog2019 (11) TMI 523X X X X Extracts X X X X X X X X Extracts X X X X ..... can be derived only on completion of the assessment under Section 153A. In this case, it is an admitted fact that the assessment has not been completed in respect of Assessment Year 2013-14. Therefore, in my considered view the Revenue is not justified in relying upon Section 132B to retain the asset, when admittedly, as on date there are no arrears of tax due from the petitioner and that the assessment for 2013-14 is not yet completed and the liability is arrived. In such view of the matter, this Court finds that the petitioner is entitled for return of the jewels retained by the Revenue. Accordingly, this writ petition is allowed and the respondent is directed to return the jewellery, which were seized from the petitioner under the Pan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is stated that subsequently, those appeals were withdrawn by the Revenue on the ground that the low tax effect is involved in this case. Accordingly, those appeals were dismissed on the ground of low tax effect, by order dated 07.06.2019. The petitioner made a request on 13.11.2017 and again on 28.11.2017 for return of the jewels. The Assessing Officer issued a notice under Section 142(1) of the Income Tax Act, 1961 dated 09.02.2018. The respondent Assessing Officer passed orders of assessment for the Assessment Years 2007-08 to 2012-13, in pursuant to the remand made by the Tribunal, on 29.06.2018. For the Assessment Year 2007-08, a notice of demand under Section 156 of the Income Tax Act, 1961 dated 29.06.2018 was issued ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court, directed the learned counsel for the respondent to verify, as to whether any tax due is pending from the petitioner, as it is stated by him that already a sum of ₹ 1,46,440/- has been paid. Accordingly, the matter is listed today for further hearing. 5. Mr.A.P.Srinivas, learned counsel appearing for the respondent produced the communication dated 30.10.2019 issued by the Deputy Commissioner of Income Tax, Central Circle to the standing counsel informing that the petitioner has settled his tax due of ₹ 1,46,440/- for the Assessment Year 2009-10 vide Challan dated 25.07.2018. After saying so, the learned counsel submitted that even though, as on date, there is no tax due from the petitione ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
