(1.) THE writ petitioner has asked for the following reliefs :
(2.) THE petitioner is an assessee under the Income-tax Act and carries on business of trading in petroleum products as well as purchase and sale of processed bidi leaves. THE petitioner is a permanent resident of Dhenkanal and for generations the family of the petitioner is staying in Dhenkanal having their lands and building, business premises. For decades, the petitioner is an income-tax assessee.
(3.) THE genesis of the case has been decided in Chowgule and Co. Pvt. Ltd. v. Union of India, 1981 47 STC 124 (SC). For better appreciation the same is given below (headnote) :