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COURT:
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DATE: January 27, 2016 (Date of pronouncement)
DATE: March 3, 2016 (Date of publication)
AY: 2007-08
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CITATION:
S. 147/ 148: Providing the assessee with the recorded reasons towards the end of the limitation period and passing a reassessment order without dealing with the objections results in gross harassment to the assessee which the Pr. CIT should note & remedy

The Principal Commissioner of Income Tax would take serious note of the above and after examining the facts, if necessary, take appropriate remedial action to ensure that an assessee is not made to suffer for no fault on its part. This is particularly so as almost the entire period of two years from the end of the financial year in which the notice is issued was consumed by the Assessing Officer in failing to give reasons recorded in support of the impugned notice. Nevertheless, the Assessing Officer proceeds to pass a draft Assessment order without dealing with the objections filed by the Petitioner. We could have on that date or even earlier passed an order setting aside the draft assessment order dated 30th March 2015 as it was passed without disposing of the objections. Thus, clearly without jurisdiction. However, we were of the view that although this appears to be a gross case of harassing an Assessee, the Principal Commissioner would take note and adopt remedial action / proceedings

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COURT:
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SECTION(S):
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COUNSEL: , ,
DATE: December 16, 2015 (Date of pronouncement)
DATE: January 15, 2016 (Date of publication)
AY: 2009-10 to 2012-13
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CITATION:
S. 254(2A): As the Third Proviso which restricts the power of the ITAT to grant stay beyond 365 days “even if the delay in disposing of the appeal is not attributable to the assessee” has been struck down in Pepsi Foods 376 ITR 87 (Del) as being arbitrary, unreasonable and discriminatory, the law laid down in Narang Overseas 295 ITR 22 (Bom) & Ronuk Industries 333 ITR 99 (Bom) that the ITAT has power to grant stay beyond 365 days has to be followed

The ratio of the decision of this Court in “Narang Overseas (P) Ltd.” (supra) would apply even to the substituted third proviso to Section 254(2A) of the Act. The basis of the decision in “Narang Overseas (P) Ltd.” (supra) was that the power to grant stay or interim relief has to be read as coextensive with the power to grant final relief. The object being that in the absence of the power to grant interim relief the final relief itself may be defeated. This Court thereafter followed the decision of the Apex Court in “CCE vs. Kumar Cotton Mills(P) Ltd., (2005(180) ELT 434 (SC)) and held that notwithstanding the pre-substituted third proviso to Section 254(2A) of the Act the Tribunal continues to have powers to grant interim relief. In the above view, therefore, the ratio of the decision in “Narang Overseas (P) Ltd.” (supra) would apply even in case of substituted third proviso to Section 254(2A) of the Act

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