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TMI Blog2019 (11) TMI 813X X X X Extracts X X X X X X X X Extracts X X X X ..... that the revenue had failed to bring out any corroborative evidences in the form of any cash transaction, or other evidences to support its findings confirmed by Tribunal - HELD THAT:- We answer the question framed in favour of the Revenue, and we direct that the appeal preferred by the revenue before the Tribunal is deemed as disposed of with liberty to both sides to seek revival in case need arises. We make it clear that, in case, the order, which forms the basis of issuance of the notice under Section 148, is upheld and sustained, eventually, then the Revenue shall be entitled to revive its proceedings pursuant to notice u/s 148 and the assessee shall not take up the plea of limitation. As of now, the re-assessment proceedings initiated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... manufacture of Aluminum alloy ingots in the guise of Ash and Residue , with the intention to suppress the actual value of aluminum dross and to evade payment of appropriate duty on the actual value thereof. Pursuant to the said notice under Section 148 of the Act, a reassessment order was passed making an addition of ₹ 13,99,00,275/- which rejecting the respondent s arguments and holding that the respondent had sold Aluminum Dross valued at ₹ 13.19,00,275/- during the financial year fraudulently by issuing sale invoices of Ash and Residue to suppress the actual value thereof clandestinely. 3. The CIT (A) upheld the action of the reopening under Section 148 of the Act, but deleted the addition of ₹ 13,19,00,275/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sel for the respondent assessee. 7. Mr. Hossain submits that in view of the said appeal being preferred, the Tribunal should have adopted the same course as prescribed by this Court in A.T. Kearney India Ltd. v. Income Tax Officer, (2015) 371 ITR 179 . In that case, though the appeal had not been preferred against the order, setting aside the order which formed the basis for issuance of notice under Section 148, the period of limitation was still available. In that light, the Division Bench observed as follows: 6. We find that there is one factor which is different from that case and, that is, that while in the previous case no appeal had been filed against the Tribunal's order, in the present case the Tribunal&# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ea of limitation. The writ petition stands disposed of accordingly. 8. Consequently, we direct that the re-assessment proceedings stand closed and the present writ petition is disposed of with liberty to both sides to seek revival in case the need arises. We make it clear that if the case is ultimately decided in favour of the Revenue in respect of the assessment year 2009-10, then the Revenue shall be entitled to revive its proceedings pursuant to the impugned notice under Section 148 of the said Act and the assessee shall not take up the plea of limitation. As of now, the re-assessment proceedings initiated by virtue of the impugned notice under Section 148 does not survive. We are making it clear that we have not e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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