9911796707
TMI Blog2014 (2) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... UDGMENT Mohammad Rafiq J.- This writ petition seeks to challenge the order dated August 19, 2003, passed by the Tax Recovery Officer. According to the facts set up in the petition, the petitioner-partnership firm is dealer in handicrafts items. During the year under consideration, a survey under section 133A of the Income-tax Act, 1961 was conducted at its business premises. A surrender of Rs. 5,08,98,166 was taken on the alleged physical stock enforcing admission of undisclosed income of the assessee, vide notice dated October 24, 2013 (annexure 7). The Commissioner of Income-tax (Appeals) allowed the relief of Rs. 1,43,32,393 thereby sustaining the addition of Rs. 3,42,96,531. The petitioner filed an appeal before the Income-tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1/JP/2013 is listed for hearing today on August 19, 2013, and the assessee seeks adjournment in that case. There thus does not appear to be any urgency for getting the dispute resolved by him. That apart, we do not find this to be a good case for granting absolute stay. Finding no merit, we reject the stay and dismiss both the applications for adjournment as well as the stay application." Shri S. M. Mehta, learned senior counsel for the petitioner-assessee, argued that when the Tribunal has disposed of the stay application with the observation that the petitioner has an arguable case, which means that it had a prima facie case and with the further direction that the matter shall be heard finally in the month of June, 2013, if the matter w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... im order and no interference is called for, especially when the appeal is yet to be heard and decided by the Tribunal. If the petitioner's appeal succeeds, the amount, in any case, shall be refunded to it with the statutory rate of interest. It is really surprising that the Tribunal having once held that the petitioner has a prima facie case while disposing of its stay petition, has taken diametrically opposite view when it later dismissed the stay petition. Moreover, when the stay petition was already dismissed, which stay petition was again dismissed, is not clear. Notwithstanding change of composition of the Bench, a certain amount of consistency is expected in the working of a statutory tribunal like the Income-tax Appellate Tribunal. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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