2015 (8) TMI 559

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....Advocate, Mr. G. S. Gupta, Advocate, Ms. Sweta Ghatak, Advocate For the Respondent : Mrs. Smita Das De, Advocate JUDGMENT I. P. Mukherji J.- The concerned assessment year is 2011-12. There is a demand from the Income-tax Department upon the assessee-writ petitioner for a sum of Rs. 12,11,86,487. Against the assessment order in question, the assessee's appeal before the Commissio....

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....for staying the demand was rejected. A further approach has been made before the Principal Commissioner of Income-tax regarding which there is no response till date. On September 10, 2014, the order dated July 17, 2014, was "annulled". Mr. J. P. Khaitan, learned senior advocate for the petitioner, tries to unfold the prima facie case of the assessee to show that the demand ex facie is unj....

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....tity of the gold of 24 carats which was said to have been converted into 22 carats upon addition of alloy was in fact of only 22 carats. It is nobody's case that that particular quantity of the gold was further converted into gold of lesser carat value. The addition of Rs. 26,35,09,093 made on the said basis is prima facie erroneous. Therefore, in my opinion, the writ petitioner has a subst....

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.... direct the Commissioner of Income-tax (Appeals) to dispose of the appeal by December 31, 2014. Other bank accounts of the writ petitioner with Union Bank of India, Sealdah Branch and Bank of India, Bowbazar Branch, will continue to remain attached with a rider that the Department will not be able to appropriate any sum therefrom till the disposal of the appeal before the Commissioner (Appeals). ....