Case Law Details
S.M. Overseas Pvt. Ltd. Vs CIT (Supreme Court of India)
High Court has committed serious error in observing and holding that the notice under Section 154 was invalid as the same was beyond the period of limitation as prescribed/provided under Section 154(7) of the Act. It is required to be noted that the proceedings under Section 154 of the Act were not the subject-matter before the High Court. Nothing was on record that, in fact, the notice under Section 154 of the Act was withdrawn on the ground that the same was beyond the period of limitation prescribed under Section 154(7) of the Act. In the absence of any specific order of withdrawal of the proceedings under Section 154 of the Act, the proceedings initiated under Section 154 of the Act can be said to have been pending.
In that view of the matter, during the pendency of the proceedings under Section 154 of the Act, it was not permissible on the part of the Revenue to initiate the proceedings under Section 147/148 of the Act pending the proceedings under Section 154 of the Act.
FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER
Feeling aggrieved and dissatisfied with the impugned judgment and orders dated 27.07.2010 passed by the High Court of Punjab and Haryana at Chandigarh in ITA No. 556 of 2009 as well as the subsequent order dated 29.09.2010 passed in Review Application No. 166-CII of 2010 dismissing the Review Application preferred by the assessee, the assessee has preferred the present Appeals.
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