Wp/30496/2021 Of Rayalaseema Bullion And Commtrade Private Limited v. The Commissioner Of Income Tax

MONDAY, THE THIRD DAY OF JANUARYTWO THOUSAND AND TWENTY TWO PRESENT THE HONOURABLE SRIJUSTICE UJJAL BHUYAN AND THE HONOURABLE SRI JUSTICE A.VENKATESHWARA REDDY WRIT PETITION NO: 30496 OF 2021 Between: Rayalaseema Bullion and Commtrade Private Limited, (PAN No. AECR3|49J) Rep.by its Director N/r. Rama Krishna Reddy Ambati, Office at l-10-35, Flat No.402,Ashok Nagar, Legend Apts., Ashok Nagar, Hyderabad, - 500029.by its Director N/r. Rama Krishna Reddy Ambati, Office at l-10-35, Flat No.402,Ashok Nagar, Legend Apts., Ashok Nagar, Hyderabad, - 500029. ...PETITIONER AND 1. The Commissioner of lncome Tax, (Appeals) Hyderabad-lii. 2. The lncome Tax Officer, Ward 3(2), lncome Tax Department, Hyderabad. ...RESPONDENTS Petition under Article 226 of the Constitution of lndia praying that in thecircumstances stated in the affidavit filed therewith, the High Court may be pleasedto pass an order or orders or a writ more particularly one in the nature of Writ ofMandamus and direct the Respondent No. 1 to dispose the Appeal and Stay Petitionfiled on d|.3110112020 filed by the Writ Petitioner against the Assessment DIN andOrder No.lTBA/AST/S/143(3)l2O1S- 2011023514295 (1) dt. 31112/2019 of theRespondent No.2 and rarsing Demand DIN and Notice No.ITBA/AST/S/156/ 2019-2011023514369(1) dt. 3111212019 and also passing the Penatty Notice dt.2311212020 Uls.274 rlw.27lAAC (1) of lncome Tax Act as illegal, arbitrary andagainst Principles of Natural Justice and in violation of Article 14 and 1g(1Xg) of theConstitution of lndia and consequently set aside the Demand NoticeNo.ITBA/AST/S115612019-2011023514369(1) dt 3111212019 and Penatty Notice dt.2311212020 lA NO: 1 OF 2021 Petition under Section 151 CPC praying that in the circumstances stated inthe affidavit filed in support of the petition, the High Court may be pleased tosuspend the is Notice No.ITBA/RCV/F11712021-2211036189003 (1) dt. 06110t2021issued by the 2nd Respondent.the affidavit filed in support of the petition, the High Court may be pleased tosuspend the is Notice No.ITBA/RCV/F11712021-2211036189003 (1) dt. 06110t2021issued by the 2nd Respondent. lA NO: 2 OF 2021 Petition under Section 151 CPC praying that in the circumstances stated inthe affidavit filed in support of the petition, the High Court may be pleased to stay ofall other proceedings till the disposal of the Appeal pending before the by the 1stRespondent.all other proceedings till the disposal of the Appeal pending before the by the 1stRespondent. Counsel for the Petitioner: SRl. CHALLA GUNARANJAN Counsel for the Respondent Nos.1 & 2: SRI A. RADHA KRISHNA, SC FORINCOME TAXThe Court made the following: ORDER HONOURABLE AND HONOURABLE [A.VE ] w.P.No.3[04]960F2[0][2l] o RDEIT:[(Per ][Hon'ble ][Sri ][Justice ][Ujjal ][Bhuyun)] lA NO: 2 OF 2021 Petition under Section 151 CPC praying that in the circumstances stated inthe affidavit filed in support of the petition, the High Court may be pleased to stay ofall other proceedings till the disposal of the Appeal pending before the by the 1stRespondent.all other proceedings till the disposal of the Appeal pending before the by the 1stRespondent. Counsel for the Petitioner: SRl. CHALLA GUNARANJAN Counsel for the Respondent Nos.1 & 2: SRI A. RADHA KRISHNA, SC FORINCOME TAXThe Court made the following: ORDER HONOURABLE AND HONOURABLE [A.VE ] w.P.No.3[04]960F2[0][2l] o RDEIT:[(Per ][Hon'ble ][Sri ][Justice ][Ujjal ][Bhuyun)] Heard Mr.Challa [Gunaranjan, learned counsel ][for ][the ][petitioner]and Mr.A.Radha [Krishna' ][leamed counsel ][for ][the ][respondents']2. Petitioner is [assessee ][under ][the ][Income ][Tax ][Act ][l96l]'the Act' [hereinafter) ][assessed ][to tax within ][the ][jurisdiction](briefly, ofrespondent [No'2.]3. For the assessment [year ][2Ol7-18, ][respondent ][No'2 ][had ][passed]assessment [order ][dated ][3l'lZ'2019 ][under ][Section ][143(3) ][of ][the ][Act']making certain [additions under ][Section ][69A ][ofthe ][said ][Act' ][Though]disclosed [income ][of ][Rs'88'44'590'00 ][in ][the return ][of]petitioner had in [view ][of ][the ][additions, ][the ][income ][was ][computed ][at]income, Rs.17,14,79,480.00 [as ][per the ][assessment ][order']4. Aggrieved [by the ][said ][order ][of ][assessment' ][petitioner ][has ][filed]before [the ][Commissioner ][of ][Income ][Tax ][(Appeals)-Ill']appeal Hyderabad i.e', [respondent ][No' ][i ][on ][30'01'2020' ][lt ][is ][stated ][that along]with the appeal [petitioner ][has also ][filed ][a ][petition ][for ][stay ][on]21.Ol.2OZl. [Both the ][appeal ][and ][the ][stay ][petition ][are ][pending' ][In ][the]meanwhile, respondent [No.2 ][is ][pressing the ][petitioner for ][payment ][of]the tax dues [as ][per the ][order ][of ][assessment ][and ][in ][this ][connection]issued demand [notice ][dated 06' ][1 ][0'2021 ][']5. Hence the writ Petition. To, 6. After hearing learned counsel for the parties and on dueconsideration, we are olthe view that it would meet the ends ofjusticeil a direction is issued to the Appetlate Authority i.e., respondent No.lto take up the stay petition stated to have been filed by the petitioneron 2l .01.2021 and pass appropriate order(s) thereon in accordancewith law. We make it clear that we have not expressed any opinioneither on merit or the prayer for stay. All contentions are kept open.However, we direct that the said stay petition should be decided byrespondent No. I within a period of six weeks from the date of receiptol a copy o1' this order by respondent No.1. Till such tin.re, thede tnand, pursuant to the assessment order dated 31.12.2019, shallremain stayed. 7. Writ petition is, accoldingly, disposed of. 8Miscellaneous applications, if any pending, shall stand closed 9No costs. Sd/. I.NAGALAKSHMIASSISTANT REGIST]RAR.[r ,.SECTION OFFICER //TRUE COPY' 1. The Commissioner of lncome Tax, (Appeals) Hyderabad-lii. 2. The lncome Tax Officer, Ward 3(2), lncome Tax Department, Hyderabad 3. One CC to SRl. CHALLA GUNARANJAN, Advocate 4. One CC to SRI A. RADHA KRISHNA, SC for lncome Tax 5. Two CD Copies 6. One Spare Copy PB NPJ q HIGH COURT DATED: 0310112022 ORDER WP.No.30496 ot 2021 DISPOSING OF THE WRIT PETITIONWITHOUT COSTS @qq"q&m-<6* .1tti s ; a,.4-lc,.1:?,J1F?