TECHNIP ITALY SPA Vs. INCOME TAX APPELLATE TRIBUNAL

JUDGEMENT

(1.) THE return was filed by the assessee showing a loss and an assessment order was made. Thereafter, under s. 263 of the IT Act, 1961 the CIT cancelled the assessment order and directed the AO to reframe the assessment. Against this order, the assessee went in appeal being ITA No. 3736/2003 before the Tribunal and also filed an application for stay. The appeal has not yet been disposed of. Insofar as the application was concerned the prayer for stay was not pressed and the Tribunal directed that the appeal be posted for out of turn hearing and in the meanwhile the AO was directed to frame the assessment but not to enforce the demand for a period of six months or till the hearing of the appeal, whichever was earlier. Unfortunately the appeal has not yet been disposed of and we were told at the Bar that the In the meanwhile, the AO reframed the assessment and raised a demand and against that demand the assessee filed a petition has been filed.

(2.) THIS writ petition can be disposed of with the direction that the appeal which is pending before the Tribunal be disposed of as expeditiously as possible preferably within one month. In the meanwhile, it will be open to the assessee to move for consideration of the stay application before the Tribunal. The writ petition stands disposed of.