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TMI Blog2018 (5) TMI 589X X X X Extracts X X X X X X X X Extracts X X X X ..... it petition, inter alia seeking for a direction to the 2nd respondent to consider and dispose of the appeals for the assessment years 2012-2013 and 2015-2016 pending before him within a period of two months. 3. Petitioner is an assessee being assessed as per the provisions of Income Tax Act, 1961 (hereinafter referred to as 'Act' for short). It is a company registered under the Companies Act, 1956. The assessee claims deduction under Section 35AD of the Act, of the entire capital of Rs. 118,74,31,816/-. Assessments for the assessment year 2012-13 were concluded rejecting the claim of the petitioner for the deduction under Section 35AD of the Act. Aggrieved by the same, petitioner preferred an appeal before Commissioner of Income Tax (Appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... approach the jurisdictional administrative Principal Commissioner of Income Tax/CIT for a review of the decision of the Assessing officer. Since the petitioner was aggrieved by the order of the Assessing officer directing him to deposit 20% of the demand amount, Review petition was filed before the Principal Commissioner of Income Tax, which came to be rejected by the Income Tax Officer. The order of rejection by the Income Tax Officer dated 12-03-2018 at Annexure-M is null and void as the Income Tax Officer has no competency to decide the review petition. Whereas the Principal Commissioner of Income tax is the competent authority to decide the review petition. That being so, the order at Annexure-M deserves to be quashed. It is further su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion under Section 35AD, non-disposal of the appeals by the Appellate Authority within the reasonable time has caused hardship to the assessee to face the demand made by the respondent-authorities where huge tax liability is created without valid basis. 7. Learned Counsel Sri. Sanmathi would fairly submit that Annexures K and M are not passed in accordance with law and the same requires reconsideration. As regards the other contentions of the learned Senior Counsel, it was submitted that the Appellate Authority shall dispose of the appeals in accordance with law and no directions are warranted. 8. Heard the learned counsel for the parties and perused the materials on record. 9. Annexures K and M deserves to be set-aside for the reason tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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