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TMI Blog2024 (11) TMI 652X X X X Extracts X X X X X X X X Extracts X X X X ..... opriate that all these contentions be permitted to be raised by the petitioner in the proceedings of an appeal which is statutory appeal, which is a remedy available to the petitioner. For such reasons, we are not inclined to adjudicate this petition on merits as an effective statutory remedy to urge all his grievances against the assessment order as also to move an application on stay of the demand, as also the penalty proceedings. The petitioner is permitted to avail of the statutory remedy of filing an appeal against the impugned assessment order which be filed within three weeks from today. - G. S. KULKARNI ADVAIT M. SETHNA, JJ. For the Petitioner: Mr. Nishit Gandhi with Ms. Aadnya Bhandari. For the Respondents: Ms. Mamta Omle. P.C. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it in the nature of 'Declaration', reading down section 115BBE of the Act appropriately so as to prevent its abuse based on discretionary exercise of power; 3. The case of the petitioner is to the effect that for the Assessment Year 2022-23, the petitioner filed its return of income. On 01 June 2023, the petitioner was issued a notice under Section 143 (2) of the Income Tax Act, 1961 (for short, the Act ) and an intimation for completion of assessment in a faceless manner as per Section 144B of the Act. Thereafter, notices were issued to the petitoiner under Section 142 (1) of the Act to which the petitioner had submitted its replies. On 19 March 2024, respondent no.1 issued a show-cause notice proposing variations to the petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mstances, being aggrieved not only by the assessment order but also by the order passed on the rectification application under Section 154 of the Act as also a notice of demand and the order imposing penalty dated 12 September 2024, the petitioner is before the Court praying for the reliefs which we have noted hereinabove. 7. We have heard learned counsel for the parties. Prima-facie it appears to us that the assessment in question which has made an addition of Rs. 266.80 Crores against the returned income of Rs. 21.92 lakhs is certainly peculiar. The petitioner has raised number of grievances against the assessment order as also against the rectification order. The primary grievance being that the case of the petitioner is based on several ..... X X X X Extracts X X X X X X X X Extracts X X X X
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