Search Results For: buy-back tax

DATE: November 22, 2019 (Date of pronouncement)
DATE: November 30, 2019 (Date of publication)
AY: -
FILE: Click here to view full post with file download link
Appeal u/s 246A reg denial of liability to pay buy-back tax u/s 115QA: The expression “denies his liability to be assessed” in s. 246A takes within its fold every case where the assessee denies his liability to be assessed under the Act. It is not confined to the liability to be assessed u/s 143(3) but applies also to the liability to pay tax u/s 115QA. If there is adequate appellate remedy, a Writ Petition under Article 226 cannot be entertained (Kanpur Coal Syndicate 53 ITR 225 (SC) & Chhabil Dass Agarwal 357 ITR 357 (SC) followed)

If the submission of the appellant is accepted and the concerned expression as stated hereinabove in Section 246(1)(a) or in Section 246A(1)(a) is to be considered as relatable to the liability of an assessee to be assessed under Section 143(3) as contended, there would be no appellate remedy in case of any determination under Section 115QA. The issues may arise not just confined to the question whether the company is liable at all but may also relate to other facets including the extent of liability and also with regard to computation. If the submission is accepted, every time the dispute will be required to be taken up in proceedings such as a petition under Article 226 of the Constitution, which normally would not be entertained in case of any disputed questions of fact or concerning factual aspects of the matter. The assessee may thus, not only lose a remedy of having the matter considered on factual facets of the matter but would also stand deprived of regular channels of challenges available to it under the hierarchy of fora available under the Act