9911796707
TMI Blog1990 (7) TMI 91X X X X Extracts X X X X X X X X Extracts X X X X ..... also to command the respondents to rescind and/or withdraw three notices dated February 27, 1979, issued under section 221(1) of the Income-tax Act, one each relating to the assessment years 1973-74, 1974-75 and 1975-76 and the order contained in the letter dated November 18, 1978, relating to the assessment year 1973-74 and the order contained in the letter dated February 27, 1979, relating to the assessment years 1974-75 and 1975-76 and all proceedings relating thereto and/or thereunder. It is contended that respondent No. 1, the Inspecting Assistant Commissioner of Income-tax, Foreign Companies, Range-II, failed to exercise his judicial discretion vested in him in accordance with law and his refusal to stay realization was vitiated by fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a total income of Rs. 26,44,200. The assessee was refunded Rs. 7,16,639 by order under section 141A dated November 12, 1973. The assessment was completed under section 143(3)/ 144B dated September 9, 1976. The total income was assessed at Rs. 33,35,870 after adjusting tax deducted at source, advance tax and refund already allowed to the assessee. The assessment order dated September 9, 1976, was revised under section 155(13) dated March 29, 1977, and provision for gratuity was allowed to the assessee. This led to a refund of Rs. 34,876 to the assessee. This order was again revised and a further sum of Rs. 67,314 was found refundable to the assessee on account of interest under section 214. The assessee went on appeal and got certain reliefs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... court that the impugned orders refusing to stay and issuing notices of demand are wholly unwarranted and uncalled for and that the judicial discretion has not been exercised in the proper perspective. Mr. R. C. Prasad, appearing for the income-tax authorities, has taken the court through a detailed background of the case and the steps taken by the income-tax authorities at all material points of time to indicate, inter alia, that the acts are justified. Having heard both sides at length and having considered the materials on record, a short point has arisen before this court for effective adjudication of matters in dispute. It has to be ascertained whether the impugned orders refusing to stay by assigning reasons and the issuance of no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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