TaxTMI 
TaxTMI 
2003 (1) TMI 59
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....assessment years 1991-92, 1992-93, 1993-94 and 1994-95. In each of the returns filed by the petitioner-assessee, deduction of different amounts was claimed on account of the said amounts being interest on the loan secured by the petitioner from the Manipur Industrial Development Corporation (MANIDCO) for setting up the industrial unit in question. In response to the said returns filed, the Assessing Officer sent intimations to the petitioner under section 143(1)(a) of the Act regarding the total income and interest payable by the petitioner by disallowing the deductions claimed. In the adjustment explanatory sheets enclosed to the said intimations, the common reason shown for disallowing the deductions claimed by the assessee, is that the i....
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....sent to the assessee and in the explanatory adjustment sheets furnished along with the said intimations, is the subject matter of the challenge in the present proceeding. I have heard Mr. H.S. Paonam, learned counsel for the petitioner, and B.P. Sahu, learned counsel appearing for the Revenue. Mr. Paonam, learned counsel for the petitioner, in support of the challenge made in the present writ petition, has contended that the return filed by the petitioner-assessee for each of the assessment years in question, was finalised by the Assessing Officer under the provisions of section 143(1)(a) of the Act. Learned counsel has contended that under section 143(1)(a), the Assessing Officer would be empowered to finalise the return filed by an ....
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.... No affidavit has been filed on behalf of the Revenue. Mr. Sahu, learned counsel appearing for the Revenue, has, however, contended that as the writ petitioner has an adequate alternative remedy either by way of a rectification application under section 154 of the Act or by means of an appeal, this court ought not to adjudicate the dispute on merits and instead, require the petitioner-assessee to approach the departmental forum. The submissions advanced by learned counsel for the parties have been duly considered. Under the provisions of the Act, no appeal would lie against the intimations sent to the petitioner by the Assessing Officer under section 143(1)(a) of the Act except, perhaps, in respect of the assessment year 1994-95. The re....
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....ed or if such a disallowance though claimed is prima facie not admissible, the Assessing Officer is empowered to make necessary adjustments in the income or loss declared in the return filed. The second limb of section 143 is contained in sub-section (2) which empowers the Assessing Officer to serve on the assessee a notice requiring him to appear before the Assessing Officer and produce such evidence that the assessee relies upon in support of the return filed. In the instant case, the Assessing Officer has disallowed the deductions claimed by the petitioner as not admissible under section 43B(d) of the Act and has added each such deduction claimed to the total income of the assessee for the assessment years in question by way of adjust....
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....ssee, there is nothing in the returns filed or the documents appended to the returns to show that the interest which was payable had not been paid. A perusal of the profit and loss account filed along with the return for each of the assessment years in question does not indicate that the interest in question has not been paid by the assessee. No material has been disclosed by the Assessing Officer before this court disputing the contention of the writ petitioner-assessee that there was no material available to the Assessing Officer to hold that the interest was not paid. Whether interest payable was paid or not, was, therefore, a question that needed to be resolved by the Assessing Officer on the basis of the materials to be adduced by the ....