9911796707
|
Home
Issues involved: Challenge to order under section 264 of the Income-tax Act for staying reassessment proceedings.
Summary: The petitioner, engaged in manufacturing and sale of tin containers and agriculture implements, faced reassessment proceedings for the years 1984-85 to 1989-90 following a search operation by the Central excise authority. The petitioner sought to stay the proceedings pending appeal before the Customs, Excise and Gold (Control) Appellate Tribunal. Despite notices issued under section 148 of the Act, the petitioner approached the High Court seeking relief. The court directed the assessing authority to allow the petitioner to present evidence showing lesser import quantities, halting further action under section 148 until a decision on the evidence. Subsequently, the assessing authority affirmed the validity of the proceedings under section 148, leading to a dismissal of the petitioner's challenge by the High Court. In a subsequent revision petition under section 264 of the Act, the Commissioner declined to stay the reassessment proceedings, citing lack of power to do so. The High Court emphasized that reassessment proceedings had commenced with the issuance of notices under section 148, which the petitioner did not contest promptly. The court noted the burden on the Revenue to prove escaped income during assessment, highlighting the petitioner's attempts to impede the process. Consequently, the court dismissed the petition, emphasizing the need to conclude assessment within the statutory timeframe and discouraging obstruction of proceedings.
|
