2013 (11) TMI 530

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....k Sethi, Advocate ORDER Rajive Bhalla , J. (Oral): Prayer in this petition is to quash order dated 30.3.2011, whereby penalty of Rs.2,22,17,032/- has been imposed, as well as for quashing order dated 31.5.2011 whereby refund due to the present petitioner has been adjusted towards penalty. This apart, the petitioner prays that in view of pendency of appeals filed by the assessee as well as the....

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.... should be raised before the Tribunal where admittedly appeals filed by the assessee and the revenue are pending. It is further submitted that as the Income Tax Act, 1961 grants a right to revenue to effect recovery, by means permissible under the statute, the petitioner should not be granted any relief with respect to coercive recovery or otherwise. We have heard counsel for the parties and as t....