9911796707
TMI Blog2024 (10) TMI 1414X X X X Extracts X X X X X X X X Extracts X X X X ..... ns issued in the order u/s 263 complied with. HELD THAT:- We are of the opinion that the recovery should await the disposal of the appeal especially since the demand raised is based on an assessment order, which was passed prior to the Tribunal s order. As submitted that 20% of the amounts have already been recovered and hence, there would be no recovery carried out based on the assessment order at Annexure-3. The appeal filed as submitted by petitioner. It is submitted by the learned counsel for the petitioner that amounts were recovered from the cash credit account and this created huge liability on the petitioner especially since the interest would run on the debit made. The petitioner, hence, seeks refund of the amounts already attached ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te For the Respondent/s : Mrs. Archana Sinha, Sr. SC, Income Tax ORAL JUDGMENT PER: HONOURABLE THE CHIEF JUSTICE The appellant is aggrieved with the assessment order passed by the second respondent; after which the Tribunal directed to make inquiries as directed by the Principal Commissioner of Income Tax regarding the correctness of the valuation report of the accountant, and if necessary, call for an independent report from an expert to confront the assessee and thereafter pass a speaking order in accordance with law. 2. The challenge to the assessment order passed prior to the Tribunal s order dated 18.05.2023 is that neither the said directions nor the directions of the Principal Commissioner were complied with. 3. On facts, suffice it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... get a report from the Assessing Officer, in accordance with the directions in the Tribunal s order. It is also submitted that in the appeal filed when the appellant submits the Tribunal s order, the Tribunal order will be sent to the Assessing Officer and a report called for. The appellant would then be permitted to file objections to the report of the Assessing Officer; after supply of the report to the appellant, before a final adjudication is made after hearing the appellant. 6. In such circumstances, we are of the opinion that the recovery should await the disposal of the appeal especially since the demand raised is based on an assessment order, which was passed prior to the Tribunal s order. It is submitted that 20% of the amounts have ..... X X X X Extracts X X X X X X X X Extracts X X X X
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