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Judgment
Heard learned counsel for the parties.
The petitioner has challenged the order dated March 27, 2002, by which the Assistant Commissioner of Income Tax, Circle 2, Patna, has amended the earlier assessment order in exercise of power under Sections 154 and 155(4A) of the Income Tax Act, 1961, and investment allowance allowed to the petitioner has been withdrawn for non-utilisation of the same within the statutory time limit.
It is an admitted position that the assessment was made and that order of assessment was subject to appeal and the appellate court has finally decided the matter. Thereafter, the respondent-Assistant Commissioner of Income Tax in exercise of power under Sections 154 and 155(4A) of the Income Tax Act issued notice to the petitioner to show cause as to why the aforesaid investment allowance be not withdrawn for its non-utilisation within the statutory time limit and granted only one day''s time to the petitioner to state its version.
Learned counsel for the petitioner states that it was not possible to give reply within such a short time.
Learned counsel appearing for the Department fairly stated that in such a short time notice cannot be properly replied.
On this ground alone, we are inclined to quash the impugned order (annexure 15). Accordingly, the same is quashed. Now, the petitioner should appear before the concerned authority on or before October 24, 2002, along with its show cause and thereafter the concerned authority on that day or on any other date fixed by it will dispose of the matter after giving proper opportunity of hearing to the petitioner.
In the result, this writ application is allowed.