Ajoy Nath Ray, J. - (1.) In this writ application I have called for detailed arguments even before filing of affidavits. This has been done to expedite the matter. The reason why such expedition is needed is this. The order under challenge is an order of the Tribunal recalling its earlier order passed in appeal. The date of the recall is June 1, 1999, and the date of the earlier order is April 22, 1998.
(2.) By that earlier order, the Tribunal had set aside a block assessment made under Chapter XIVB of the Income-tax Act, 1961. By reason of the order of recall, the set aside block assessment revives. If instead of hearing the writ, a stay is granted, it will completely freeze assessment proceeding until further steps are taken. This is not a desirable course, as the matter, if the details are grasped, is really very short, usual and simple.
(3.) After the Tribunal passed its order in April, 1998, an Explanation was added to the Income-tax Act in Chapter XIVB to Section 158BA and under that Explanation regular assessments for all years in the block period are also required to be made.;