PRADEEP MISHRA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) OUT the directions of the Income -tax Settlement Commission within a period of four weeks from that date. However, in the meanwhile, CM No. 9697 of 2004 was filed by the chartered accountant who was appointed as a special auditor under the provisions contained in s. 142(2A) of the IT Act, 1961 (hereinafter referred to as "the Act").

(2.) THE order of the Settlement Commission was to the effect that the assets will be released after the taxes and statement was made by the applicant in CM No. 9697 of 2004 that the fees are to be recovered as tax dues from the further orders. It may be noted that so far as the question of payment of fees to the chartered accountant/ auditor is concerned, it has been decided today in WP (C) 1775 of 2000 and 6312 of 2000 filed by the assessee and chartered accountant, respectively. If the assessee has paid all the taxes and interests as per the order made by the Settlement Commission, then the order passed by the Settlement Commission is required to be complied with. According to the learned counsel, all the taxes and interests are fully paid. If that is so, then only the auditor's fee, as ordered by this Court, is required to be paid by the assessee and, till the auditor's fees are paid, it would be open for the Revenue to retain the jewellery. The learned counsel for the petitioner has stated that if the articles other than the jewellery are released/returned to the petitioner, then within a period of four weeks he will be able to make the payment for the auditor fees as ordered by this Court and upon the discharge letter given by the auditor, the jewellery be released by the CIT. We direct accordingly. The articles/assets other than jewellery shall be released within a period of one week. We also make it clear that in case the auditor's fees as ordered by this Court are paid by the petitioner earlier, then on production of discharge letter issued by the chartered accountant/auditor concerned, it would be open for the petitioner to move the CIT for release of the jewellery also as ordered by the Settlement Commission. With these directions, the CM stands disposed of.