AJAY RASTOGI, J. - (1.) WHILE considering application Under Article 226(3) of Constitution seeking vacation of interim orders dt.23/05/08, this Court vide order dt.16/01/09 observed to finally dispose of the petition at admission stage; hence instant petition was finally heard at joint request.
(2.) INSTANT petition is directed against order dt.31/03/2008 (Ann.4) in Misc.Appl. 8/JP/2008, whereby Income Tax Appellate Tribunal, Jaipur Bench ('ITAT, Jaipur') in exercise of powers Under Section 254(2) of Income Tax Act, 1961 ('IT Act') re -called its earlier order dt. 29/03/2006 (Ann.1) and further directed both the appeals (ITSSA -105/JP/2004 and 35/JP/2005 -Asstt. Year -Block Period 01/04/88 to 23/03/99) to be heard by ITAT Mumbai Bench, Mumbai in terms of order dt. 04/04/05 (Ann.3) of the President ITAT, Mumbai (respondent No. 4). Basic issue raised herein is as to whether on the facts and in the circumstances of the case, the Tribunal has erred in law and in facts in re -calling its final order passed Under Section 254(1) with a view to rectify the same in exercise of powers Under Section 254(2) of the Act.
(3.) SHORN of all details, only relevant facts necessary for purposes of issue raised herein are summerised. It appears that on 21/01/99, the Revenue initially conducted a search operation Under Section 132 of the Act at office and residential premises of one Shri Mayur M. Thakkar of Mumbai wherein certain cash and documents were seized and in course of search of his bank accounts, name of petitioner -Company (M/s Apex Metchem (P) Ltd, 193A Industrial Area Jhotwara Jaipur) was found having debit and credit statements. Proceedings for block period (01/04/88 to 23/03/99) were initiated against M. Thakkar Under Section 158 -BC at Mumbai while against petitioner Company Under Section 158BD of the Act at Jaipur. Assessing Authority at Mumbai passed order of assessment in case of M. Thakkar Under Section 158BC on 31/03/01 against which appeal was preferred before Commissioner of Income Tax (Appeals) Mumbai and decided on 30/04/03. Since petitioner -Company also appeared as intervenor in proceedings initiated against M. Thakkar, as such also preferred appeal against order of assessment made Under Section 158BC and order of CIT(A) Central VII Mumbai before Appellate Tribunal, Mumbai which was transferred by Appellate Tribunal Mumbai to Jaipur Bench and came to be registered as ITSSA -97/JP/04.;