TMI Blog2022 (11) TMI 1472X X X X Extracts X X X X X X X X Extracts X X X X ..... dy of appeal is available to the petitioner which needs to be filed before the CIT(Appeals) as per the provisions of Section 246 of the Income Tax Act. However, as the immediate concern of the petitioner is with regard to the penalty and recovery proceedings thereof, the present petition was moved contending that the alternate remedy is not an efficacious remedy. However, considering the peculiar facts of the case, we are of the opinion that the petitioner needs to avail of the alternate remedy as available to the petitioner in law i.e. by filing appeal before the Commissioner of Income Tax (Appeals). Insofar as the apprehension of the petitioner in regard to the penalty/recovery proceedings are concerned, in our opinion, it would be approp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 274 read with Section 271F of the IT Act. These notices are also challenged in the present proceedings. The assessment orders pertain to the four assessment orders of the year 2014-2015, 2015-2016, 2016-2017 and 2017-2018. It would be appropriate to note the prayers as made in the Writ Petition, which read thus : a) Issue a Writ of Certiorari or Writ in the nature of Certiorari or any other appropriate Writ, order or direction quashing and setting aside the Impugned Orders dated 23/3/2022 bearing DIN Nos. ITBA / AST /S / 147 / 2021-22 / 1041388030(1); ITBA/AST/S/147/2021 22/1041392267(1); ITBA / AST / S / 147 / 2021-22 / 1041392449(1); ITBA / AST / S / 147 / 2021-22 / 1041392840(1) and the Impugned Penalty Notices dated 11 August 2022 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ration and implementation of the Impugned Orders dated 23/3/2022, 11/8/2022 and 16/8/2022. e) Pass such and other reliefs as this Hon ble Court deems fit and proper. f) Costs of this petition. 3. The challenge of the petitioner to the impugned assessment orders as mounted in the present proceedings is basically on the premise that the petitioner, which is a private limited Company, was directed to be wound up by an order passed by this Court dated 26 June, 2009, in the proceedings of Company Petition No.19 of 2006, instituted by one Shekhar Electricals , one of the creditors of the petitioner. The case of the petitioner is that there were borrowings by the petitioner from the Economic Development Corporation and the State Bank of India. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before the Official Liquidator and which ought to have been filed in respect of the position as it stood on the date of winding up of the Company. She has submitted that also no records were furnished to the Official Liquidator and no funds of the Company were lying with the Official Liquidator. She would also submit that in so as far as the Official Liquidator is concerned, the Official Liquidator has acted in accordance with law and the contentions and/or any allegations of the Official Liquidator ought not to be accepted. 6. The Revenue is represented by Ms. Linhares, who has submitted that the impugned orders as also the penalty action as been initiated against the petitioner is as per law. 7. We have heard the learned Counsel for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble and within a period of three months from the date of the appeals being filed. (ii) All contentions of the parties on the merits of the appeals are expressly kept open. (iii) Till the appeals are decided, considering the peculiar facts of the case and without this order being treated precedent in any manner whatsoever, the penalty/recovery proceedings against the petitioner shall not proceed. (iv) The petitioner is directed to co-operate in the early disposal of the appeals. (v) It is clarified that our directions that the recovery proceedings against the petitioner shall not proceed till the disposal of the appeals, shall not be construed to be any expression on the merits of the rival contentions. The Appellate Authority shall decide t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
