2024 (10) TMI 1414

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..... Chief Justice And Honourable Mr. Justice Harish Kumar For the Petitioner/s : Mr. D.V.Pathy, Advocate For the Respondent/s : Mrs. Archana Sinha, Sr. SC, Income Tax ORAL JUDGMENT PER: HONOURABLE THE CHIEF JUSTICE The appellant is aggrieved with the assessment order passed by the second respondent; after which the Tribunal directed to make inquiries as directed by the Principal Commissioner of I .....

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..... arried out in accordance with law. The assessment order passed under Section 143 of the Income Tax Act, 1961 was cancelled and set aside with a direction to the Assessing Officer to frame the assessment de novo by making fresh inquiries and verification regarding the accuracy or completeness of such information provided by the management of the Company for the purpose of valuation of shares as per .....

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..... accordance with the directions in the Tribunal's order. It is also submitted that in the appeal filed when the appellant submits the Tribunal's order, the Tribunal order will be sent to the Assessing Officer and a report called for. The appellant would then be permitted to file objections to the report of the Assessing Officer; after supply of the report to the appellant, before a final adjudicat .....

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..... und of the amounts already attached and recovered from the petitioner's account. The petitioner also relies on judgment at Annexure-9 of another Division Bench of this Court. 8. Annexure-9 decision was in a batch of three writ petitions where attachment of the bank accounts of the assesses were made, when the assessment orders which created the demand were challenged in appeal after depositing 20 .....

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..... recovered in the intervening period. In that circumstance, we are of the opinion that there is no requirement to direct the assessee to be refunded the 20% already recovered. There shall be no further recovery based on the impugned assessment till the appeal is disposed of. 10. The writ petition stands disposed of with the above observations but without anything said about the merits of the asse .....

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