2022 (9) TMI 1614 - HC - Income Tax

Stay Granted on Proceedings Over Black Money Act Show Cause Notice for 2019-2020 Assessment Year Pending Appeal.

The HC of Bombay granted a stay on further proceedings concerning a show cause notice under the Black Money Act, 2015, related to the 2019-2020 assessment ... Show cause notice issued under Black Money Act - the basis for issuance of show cause notice is the assessment made against the petitioner by the Deputy Director, Income Tax (Inv) Unit 8(4) and said order is subject matter of appeal before CIT (A) and same is pending - Pending the said civil litigation, respondents cannot take criminal action - HELD THAT:- As the petitioner has filed reply to the said show cause notice and also sought documents on which the respondents intends to rely upon. As respondent nos. 2 and 3 seeks time to make submissions and/or file affidavit upto 17/11/2022.Place the matter on 17th November 2022. As the time is sought by respondent nos. 2 and 3, till the next date, respondent nos. 2 and 3 shall not proceed further pursuant to the impugned show cause notice. The High Court of Bombay heard a case regarding a show cause notice issued under the Black Money Act, 2015 based on an assessment for the year 2019-2020. The petitioner argued that it would be premature to issue the notice while the assessment is under appeal. The court stayed further action by the respondents until the next hearing on November 17, 2022.