M.N.Roy, J. - (1.) This application for appropriate interim orders, amongst others, was filed in an appeal, [1990] 183 ITR 528 (supra), which has been presented against the judgment arid order dated March 9, 1990, whereby a learned single judge of this court rejected the writ petition which was moved against three orders, all dated February 16, 1990, relating to the assessment years 1984-85, 1985-86 and 1986-87 passed by the Assistant Commissioner of Income-tax, Central Circle-XXI, Calcutta, refusing to grant stay of realisation of the demand as disputed for the said assessment years pending disposal of the first appeal.
(2.) The appellant/petitioner (hereinafter referred to as the said "company") is, admittedly, an existing public company and carries on manufacturing, amongst others, of tyres and tubes and has claimed to be maintaining accounts on the basis of the English calendar year ending on December 31 of every year and the method of accounting adopted is the mercantile basis. It has been claimed that such accounts are maintained on accrual basis and thus the profit or loss is also computed on such basis, following the mercantile system of accounting and the assessments have also been made on that basis.
(3.) The said company is also a registered dealer, both under the Sales Tax Acts of the States and the Centre and has stated that they are selling their products both in wholesale and retail markets from their various branches and depots. It was claimed that the sales tax payable by them is included in the invoices as raised and such tax is recovered from the customers. It was also the case of the said company that, under or in terms of the various Acts of different States, they are required to pay sales tax, turnover tax and purchase tax in respect of sales and purchases effected by them in the respective States. They are also stated to have furnished returns duly and also to have deposited sales tax and other taxes within the permissible period.;