Case Law Details
Omkara Assets Reconstruction Private Limited Vs ACIT (Madras High Court)
In view of the fact that the Assessment Order is appealable and such appeal has been filed by the petitioner, I am not inclined to consider the Writ Petition on merits. Nonetheless, in view of the fact that the main issues for consideration in such appeal are limited largely to the inclusion of unsecured loans and share capital as part of the total income of the assessee, I am inclined to direct the expeditious disposal of the Appeal pending before the Commissioner of Income Tax (Appeals). Such appeal shall be decided after providing a reasonable opportunity to the petitioner, including a personal hearing if so requested. Accordingly, Writ Petition No.11970 of 2021 is disposed of by directing the Commissioner of Income Tax [Appeals] to dispose of the appeal filed by the petitioner against the Assessment Order dt.26.04.2021 as expeditiously as possible, preferably within a period of two months from date. Until such time, the respondents are restrained from recovering amounts pursuant to the Assessment Order under challenge in the present Writ Petition. No costs. Consequently, the connected miscellaneous petitions are closed.
FULL TEXT OF THE JUDGMENT/ORDER OF MADRAS HIGH COURT
The Writ Petitioner challenges an Assessment Order dt.26.04.2021 passed under Section 143 (3) r/w Section 144 B of the Income Tax Act, 1961 and the consequential notice of demand dt.26.04.2021 under Section 156 of the said Act.
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