2024 (11) TMI 647

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....terms of Section 68 of the Income Tax Act, 1961 (hereinafter referred to as "the Act"), on the basis of statements obtained from employees/ 3rd parties. 2. It is submitted by the learned Senior Advocate appearing for the petitioner that despite a specific request having been made by the petitioner to furnish the complete sworn statement purported to have been recorded under Section 132 (4) of the Act and also an opportunity to cross-examine the persons whose statements were sought to be relied upon, the same was not granted on the premise that the above request cannot be entertained due to paucity of time. The relevant portions of the impugned order is extracted hereunder: "9. Hence, based on the material evidences found and seized and t....

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....t petition under Article 226 of the Constitution of India would not be entertained normally if statutory remedy is available. However, existence of alternate remedy is not an embargo or an absolute bar to exercise power under Article 226 of the Constitution of India but a self-imposed restriction and the following circumstances viz., violation of principles of natural justice or lack of jurisdiction or error apparent on the face of the record are some of the exceptions carved out to the rule of alternate remedy for exercise of discretion under Article 226 of the Constitution of India. 7. It is by now well-settled that taxing authorities entrusted with the powers to make assessment for taxes discharge quasi-judicial functions and they are b....