TaxTMI 
TaxTMI 
2021 (5) TMI 372
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....t Corporation Ltd. (TIIC). The property was owned by one M/s.Srinivasa Chemical Pvt. Ltd. (assessee) which had availed financial assistance from TIIC. Since the assessee had defaulted in the repayment of the financial assistance received, the property was brought to sale by TIIC by tender-cum-open-auction on 01.12.2009 and the petitioner emerged as the successful bidder. The sale consideration was a sum of Rs. 70 lakhs and sale certificate was issued to the petitioner on 10.08.2010. Possession of the movables and immovales have been taken by the petitioner. 2. Thereafter the petitioner approached the Sub-Registrar for registration of the sale deed. The request was denied on the ground that an encumbrance was registered on the property by t....
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....o, the impugned orders dated 23.10.2019 have come to be passed wherein the applications filed by the petitioner have been rejected. The basis of the rejection is that the petitioner was not a 'dealer' as required under the Settlement Act and also that the amount paid did not satisfy the condition that 90% of the settlement amount has to be remitted along with the application. The 90% of computation in this case, is in relation to the amount due under all seven applications. 6. The petitioner has approached this Court challenging the above orders and raising various grounds in support thereof. I hardly need to advert to all the grounds filed for the reason that, at the hearing on 25.01.2021, I had directed learned revenue counsel to....
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.... available for the other years. Thus, I have no doubt in mind that orders of assessment have not been passed for any of the periods in question barring 1994-95 and 1995-96. It is for the reason that I do not see the necessity to advert to the other grounds raised by the petitioner as this one fact would be sufficient to decide the challenge to the impugned orders. 9. It is a sine qua non that a demand under revenue statute can be raised and enforced only if it is preceded by a valid order of assessment. In the present case, we are concerned only with the demands raised under orders of assessment for the periods 1994-95 and 1995-96 in respect of which impugned orders dated 23.10.2019, quantify the demands at figures of Rs. 11,85,987/- and R....
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....cant shall pay one third of such arrears of tax pending collection on the date of application along with interest at six per cent per annum on the arrears of tax and on such payment of tax, the balance of tax and interest and the entire penalty shall be waived. 8.(1) The designated authority shall, on being satisfied about the payment of the amount determined under sub-section (1) of section 6, by an order, settle the arrears of tax, penalty or interest and issue a certificate in such form as may be prescribed, and thereupon, the applicant shall be discharged from his liability to make payment of the balance amount of such arrears of tax, penalty or interest. Separate certificate shall be issued in respect of each application. 12. The ....