Wp(C)/31272/2022 Of M/ S Sreevalsam Jewellers v. Assistant Commissioner Of Income Tax

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 20 DAY OF OCTOBER 2022 / 28TH ASWINA, 1944 WP(C) NO. 31272 OF 2022 PETITIONER: M/ S SREEVALSAM JEWELLERSGROUND FLOOR SREE VALSOM BUILDING ,MC ROAD,PANDALAM, PATHANAMTHITTAKERALA, PIN – 689 501.REPRESENTED BY ITS MANAGING PARTNER -VARUN RAJ BY ADVS. S.MUHAMMED HANEEFF DIVYA RAVINDRAN M.H.ASIF ALI RESPONDENTS: 1ASSISTANT COMMISSIONER OF INCOME TAXCENTER CIRCLE, AAYAKAR BHAVAN,KARBALA JUNCTION, KOLLAM, PIN – 691 001.2THE TAX RECOVERY OFFICER (CENTRAL)KANDAMKULATHY TOWERSOPP. MAHARAJA'S COLLEGE GROUNDM.G ROAD, KOCHI, PIN – 682 011. 3THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL)KANDAMKULATHY TOWERSOPP. MAHARAJA'S COLLEGE GROUNDM.G ROAD, KOCHI-682011, PIN – 682 011. OTHER PRESENT: ADV. JOSE JOSEPH (SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON20.10.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JUDGMENT The petitioner has approached this Court seeking a limited relief. The petitioner has been assessed to Income Taxfor the assessment year 2018-2019, for a sum ofRs.1,08,53,047/- (One Crore Eight Lakhs Fifty Three Thousandand Forty Seven Rupees Only). The assessment wascompleted under Section 147 of the Income Tax Act. Thepetitioner only prays for some time to pay off the amounts dueunder the order of assessment. 2.The learned Standing Counsel appearing for therespondent department would submit that under theprovisions of the Income Tax Act, the assessing officer cangrant time for payment by an application is made as providedin Section 220(3) and since no such application has beenmade, the petitioner is not entitled to any relief. 3.The learned counsel appearing for the petitionersubmits that the petitioner has filed a petition before theRecovery Officer with a copy to the assessing officer andthis should be treated as sufficient compliance of theprovisions of Section 220(3) of the Income Tax Act. It is also pointed out that pursuant to the interim order dated30-09-2022, the petitioner has already remitted a sum ofRs.10,00,000/-( Rupees Ten Lakhs Only). 4.Having heard the learned counsel appearing for thepetitioner and the learned Standing Counsel appearing for therespondent department, this Writ Petition is disposed ofpermitting the petitioner to pay the balance of the amountsdue under Ext.P1 order of assessment in six equal monthlyinstallments commencing from 30-11-2022. The firstinstallment shall be paid on or before 30-11-2022 and thesubsequent installments which shall be paid on or before the30[th] day of the succeeding months. The petitioner will also beliable to pay such interest as may be demanded by thedepartment on the amounts due from the petitioner. The writ petition is disposed of as above. ats Sd/-GOPINATH P.JUDGE APPENDIX OF WP(C) 31272/2022 PETITIONER EXHIBITS Exhibit P1TRUE COPY OF THE ASSESSMENT ORDER ALONG WITH DEMAND NOTICE DATED 24.03.2022 PASSED UNDER SECTION 147 OF THE ACT BY THE 1ST RESPONDENT Exhibit P2TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 19.7.2022, INITIATING REVENUE RECOVERY PROCEEDINGS ExhibitP3TRUE COPY OF THE LETTER DATED 26.09.2022, SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT FOR A.Y.2018-19