- (1.) AT joint request, both these petitions were heard together. These petitions have been filed assailing respective
(2.) PETITIONERS have tried to convince this Court that apart from violation of principles of natural justice and reasonable opportunity of hearing being denied by assessing authority while making impugned assessments, even on merits, as well, material on record has not been properly appreciated and impugned assessments made by assessing authority particularly with regard to deemed dividends is not as per requirement of law and without following procedures as provided under law, impugned assessments have been made.
(3.) COUNSEL for petitioners company submits that there are circulars issued by the respondents giving facilities to the assessee that if the demand under assessment is double the original computed, the same is either stayed pending appeal or appellate authority while exercising powers for grant of interim relief pending appeal may objectively consider the grievance of the assessee; but if it is not granted in the interest of justice that may cause irreparable loss to the assessee and the practice shows that such a discretion is not being judiciously exercised by the authority despite Government's circulars, which has constrained petitioner company to approached this Court by way of instant petitions. Counsel further submits that very assessments impugned made by assessing authority since have not been made in accordance with provisions of the IT Act, 1961 ("IT Act"), are without jurisdiction and that apart, certain pleas raised being not considered by assessing authority has caused prejudice to them.;