TaxTMI 
TaxTMI 
TaxTMI 
2014 (9) TMI 1299
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....ating to the same assessee were heard together and are being disposed off by this consolidated order for the sake of convenience. IT(SS)A No. 25/Chd/2007: 4. The grounds of appeal raised By the assessee in IT(SS)A No. 25/Chd/2007 read as under: 1. That the Id. Commissioner of Income Tax (Appeals) has erred in law in holding that he has no jurisdiction over the case of the assessee which is unjustified and illegal. 2. That the Id. Commissioner of Income Tax (Appeals) has erred in summarily rejecting the appeal without deciding the various grounds of appeal raised before him which is arbitrary and unjustified. 3. That the Id. Assessing Officer had also passed the order without affording proper opportunity of being heard which is against the settled principles of natural justice. 4. That the block assessment order passed under section 158 BC having been quashed by the Hon'ble ITAT on legal grounds, the demand raised on the basis of block assessment order is reduced to nil and the Assessing Officer having raised a demand of tax on the basis of quashed order is illegal and unjustified, the adjudication on facts being only academic in nature & non operational on account....
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....th the provisions of law. The said request of the assessee was thus rejected. However, certain other mistake noted by the Assessing Officer was corrected by the Assessing Officer and interest under section 244A of the Act was reworked. 9. The CIT (Appeals) was of the view that since the order under section 154 of the Act was passed under section 158BC of the Act, against which direct appeal lies to the Tribunal. The CIT (Appeals) had no jurisdiction over the case of the assessee. 10. The assessee is in appeal against the said order of the CIT (Appeals). 11. Shri Tej Mohan Singh appeared for the assessee and vehemently argued that the interest under section 132B of the Act was allowable to the assessee. 12. The learned D.R. for the Revenue pointed out that in view of the provisions of the Act no such interest was due to the assessee. 13. We have heard the rival contentions and perused the record. In the facts of the case, pursuant to the order passed under section 158BC of the Act, direct appeal was filed before the Tribunal in which the initial income determined by the Assessing Officer was substantially reduced resulting in refund to the assessee. Thereafter an application un....
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....ith such assessment or reassessment) andiron which he is in default or is deemed to be in default may be recovered out of such assets. (ii) If the assets consist solely of money, or partly of money and partly of other assets, the Assessing Officer may apply such money in the discharge of the liabilities referred to in clause (i) and the assessee shall be discharged of such liability to the extent of the money so applied; (iii) The assets other than money may also be applied for the discharge of any such liability referred to in clause (i) as remains undischarged and for this purpose such assets shall be deemed to be under distraint as if such distraint was effected by the Assessing Officer or, as the case may be, the Tax Recovery Officer under authorisation from the Chief Commissioner or Commissioner under sub-section (5) of section 226 and the Assessing Officer or, as the case may be, the Tax Recovery Officer may recover the amount of such liabilities by the sale of such assets and such sale shall be effected in the manner laid down in the Third Schedule. (2) Nothing contained in sub-section (1) shall preclude the recovery of the amount of liabilities aforesaid by any othe....
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....he order under section 132(5) of the Act to the date of regular assessment or re-assessment. 16. Now coming to the facts of the present case, the assessment under section 158BC of the Act was completed on 27.9.1996 on total un-disclosed income of Rs, 1,41,75,090/- and net amount payable by the assessee was determined at Rs. 85,05,054/-.Thereafter pursuant to the order passed by the Tribunal, appeal effect was allowed to the assessee vide order dated 20.11.2003 under which the income of the assessee was recomputed at Rs.14,12,334/- and refund of Rs. 9,51,500/- including interest under section 244A of the Act was determined. Before passing of the order giving appeal effect to the order of the Tribunal, there was sale of stock of perishable goods by the department, which in turn were seized during the course of search and the amount realised on such sale of stock was adjusted against the taxes payable by the assessee. The said adjustment was made on 11.12.1998 of Rs. 5 lacs and on 28.12.1998 of Rs. 6 lacs. The break up liability of the said adjustment against taxes paid is noted in the order passed under section 154/254 of the Act giving effect to the order of the Tribunal vide order....
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....llowed to the assessee. In view thereof, we find no merit in the claim of the assessee as to interest receivable under section 132B of the Act and the same is rejected. The grounds of appeal raised by assessee are dismissed. IT(SS)A No. 1/Chd/2012 18. The grounds of appeal raised by the assessee in IT(SS)A No. 1/Chd/2012 are as under: 1. That the Ld. Assessing Officer has erred in passing the order under section 143(3) of the Act as against section 158BC in as much as the proceedings before the Assessing officer were in respect of the Block Period 01.04.1986 to 26.09.1995 which renders the order illegal and unjustified. 2. That the Ld. Assessing Officer has erred in law as well as on facts upholding the addition of Rs.14,12,324/- without giving the benefit of telescoping of the amounts as per the directions of the Hon'ble IT AT which is illegal, arbitrary & unjustified. 3. That the Ld. Assessing Officer has erred in holding that the claim of the assessee regarding undisclosed expenditure of Rs. 6,36,496/- has already been treated as undisclosed income by the Hon'ble IT AT and as such no intervention is called for which is contrary to the facts on record in as muc....