2013 (11) TMI 873

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.... Mr. Ashwani Chopra, Senior Advocate with Mr. Amit Aggarwal, Advocate ORDER Rajive Bhalla, J. The petitioner prays for issuance of a writ of certiorari quashing show cause notices, assessment order dated 27.08.2013 and tax demand notice dated 27.08.2013. At the very out-set, counsel for the petitioner was confronted with Section 62 of the Punjab Value Added Tax Act, 2005 (hereinafter r....

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....) of the Income Tax Act, 1961. The petitioner filed an Income-tax return disclosing capital gains, which has been accepted. The petitioner and the purchasing entity filed a joint declaration to the Sales Tax Department, furnishing intimation of the `slump sale'. The Assessing Officer, however, issued show cause notices to the petitioner and eventually, passed an assessment order levying tax an....

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.... It is, thus, argued that as the Assessing Officer has ignored all cannons of law, the writ petition may be entertained. It is further prayed that in case the petitioner is to be relegated to his alternative remedy, the condition of pre-deposit with respect to penalty may be waived. We have heard counsel for the petitioner, perused the paper-book, the impugned order and the show cause notices. ....

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.... an erroneous exercise of jurisdiction, namely, exigibility to sales tax of `slump sale', applicability of the Full Bench judgment of the Andhra Pradesh High Court and legality of the penalty and, therefore, can be validly urged before the appellate forum. The petitioner has approached this Court, as a precondition to the filing of an appeal is the requirement to pre-deposit a part of amount c....