2024 (11) TMI 652

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....of India an appropriate direction, order or a writ, including a writ in the nature of 'Certiorari', calling for the records of the case and, after satisfying itself as to the legality thereof, quash and set aside the assessment order u/s 144B r.w.s. 143 (3) of the Act and the Notice of Demand u/s 156 of the Act both dated 31.03.2024, Exs. "H & "I" herein respectively and all consequential proceedings thereto including the order imposing penalty dated 12.09.2024, Ex. "M herein issued / passed by the Respondents and all further and consequential proceedings taken /to be taken in pursuance thereof; (b) That this Hon'ble Court may be pleased to issue under Article 226 of the Constitution of India an appropriate direction, order o....

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..... 4. On such backdrop, on 31 March 2024, an assessment order came to be passed, in which, according to the petitioner, an unconscionable addition of about Rs.266.80 Crores was made on the petitioner, as against the returned income of Rs. 21.92 lakhs. Also a Notice of Demand of the even date was issued against the petitioner. 5. In the aforesaid circumstances, being aggrieved by such demand and the assessment order, the petitioner moved a rectification application under Section 154 of the Act against the assessment order on 25 April 2024, inter alia making a grievance that the case being presented by the petitioner and the submissions made in the detailed replies filed by the petitioner on 23 March 2024 and 25 March 2024 as also in the pri....

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.... and it is appropriate that all these contentions be permitted to be raised by the petitioner in the proceedings of an appeal which is statutory appeal, which is a remedy available to the petitioner. For such reasons, we are not inclined to adjudicate this petition on merits as an effective statutory remedy to urge all his grievances against the assessment order as also to move an application on stay of the demand, as also the penalty proceedings. We are accordingly inclined to dispose of this petition by the following order:- ORDER i. The petitioner is permitted to avail of the statutory remedy of filing an appeal against the impugned assessment order which be filed within three weeks from today. ii. The petitioner is also permitted ....