Law:

Section:

Section 119 of the Income-tax Act, 1961 - Central Board of Direct Taxes - Instruction to subordinate authorities - Whether Board does not have power under section 119 to issue notification amending a provision enacted by Parliament - Held, yes Circulars and Notifications - Notification No. 9995, dated 1-3-1996 N.R. Siva Swamy for the Petitioner. S.R. Ashok, M. Vijaya Saradi Reddy and D.L. Kiran Prakash for the Respondent. JUDGMENT Bilal Nazki, J. - Heard learned counsel for both the parties and perused the record. 2. The controversy is very short and mostly the material facts are not at dispute. The petitioners challenge a sale on the ground that the sale was effected beyond time. The dates which are material, as stated above, are not in dispute. The order became final somewhere in 1991-92 and accord-ing to rule 68B of the Income-tax Act, 1961 (for short 'the Act'), the order had to be deemed to have come into force from the end of the financial year in which the order giving rise to a demand of any tax, interest, fine, penalty or any other sum had been attached had become conclusive. As such, the time would start running from March 31, 1993, since rule 68B of the Act itself was incorporated by the Finance Act, 1992, with effect from June 1, 1992. Therefore, June 1, 1992, was taken as a date for reference. The assessment, in the present case, has been completed before June 1, 1992. In between, the Department tried to auction the property but cancelled the auction because the price procured in such auction was not acceptable to the Department. Therefore, the Department claimed one year's further time in accordance with the proviso to sub-rule (1) of rule 68B of the Act. The matter was also pending in the High Court and almost for a period of five years the High Court continued the stay. Therefore, senior counsel appearing for the respondents submits that the time during which the stay of the High Court remained operative has to be excluded. He also contends that one year's further time has to be granted because in one of the auctions, the property was not sold. He further contends that there has been amendment to…

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